Subject (Course): the Islamic Development Bank (IDB). Istisnaa. Sharia. Syllabus:
The objectives of the subject “The Islamic Development Bank” are:
Sample of the subject - Islamic Development Bank (IDB):
Subject Description: The Islamic Development Bank (IDB):
The Islamic Development Bank is an international financial organisation created in the achievement of the Declaration of Intent issued by the Conference of Finance Ministers of Muslim Countries held in Jeddah in 1393H (December 1973).
The Inaugural Meeting of the Board of Governors took place in Rajab 1395H (1975), and the Bank was formally opened on 15 Shawwal 1395H (1975).
The official language of the Islamic Development Bank is Arabic.
The goal of the Islamic Development Bank is to promote the economic development, international trade and social progress of members of the Islamic Development and Muslim communities individually as well as jointly in agreement with the principles of Shari'ah (Islamic Law).
Shari'ah is the set of rules derived from the Holy Quran, the authentic traditions (Sunnah) of the Prophet (peace be upon him) and the scholarly opinions (Ijtihad) which are based on the Holy Quran and the Sunnah.
Objectives of the Islamic Development Bank:
The present membership of the Islamic Development Bank consists of fifty-six countries.
The Islamic Development Bank Member countries are the United Arab Emirates, the Kyrgyz Republic, Lebanon, Libya, Mauritania, Morocco, Mozambique, Palestine, Qatar, Saudi Arabia, Senegal, Sierra Leone, Somalia, Sudan, Suriname, Syria, Tajikistan, Togo, Tunisia, Uganda, Niger, Pakistan, Afghanistan, Chad, Albania, Benin, Iran, Jordan, Algeria, Burkina Faso, Cameroon, the Gambia, Uzbekistan, Indonesia, Malaysia, Iraq, Kazakhstan, Kuwait, Maldives, Mali, Nigeria, Oman, Turkmenistan, Azerbaijan, Bahrain, Bangladesh, Brunei Darussalam, the Comoros, Ivory Coast, Djibouti, Gabon, Guinea, Guinea-Bissau, Egypt, Yemen, and Turkey
Preference areas of the Islamic Development Bank:
The Islamic Development Bank Group will focus on the following six preference areas.
The Islamic Development Bank is also in the process of opening its fourth regional office in Dakar, Senegal. The Islamic Development Bank has field representatives in thirteen member countries Bangladesh, Guinea, Guinea-Bissau, Indonesia, Iran, Libya, Mauritania, Nigeria, Pakistan, Senegal, Sierra Leone, Sudan, and Uzbekistan.
Islamic Development Bank - Unit of Account (Islamic Dinar).
The Islamic Development Bank Group offers a broad spectrum of financing and development schemes: project financing, International Trade financing, insurance in agreement with principles of Shari'a (Islamic Law) financing modes.
The Istisna'a finance mode allows providing financing for manufacturing and/or distribution of identified products (equipment, civil works). Istisna'a is a contract whereby a party undertakes to produce a specific thing which is possible to be made in agreement with some agreed-upon specifications at a determined price and for a fixed date of delivery. This undertaking of the production includes any process of manufacturing, construction, assembling or packaging.
The Islamic Corporation for Insurance of Investments and Export Credits was created in 1415H (1994) with the objective to broaden the amplitude of regional trade transactions, and foreign direct investment flows among the member countries of the Organisation of Islamic Cooperation.
The Islamic Corporation for the Development of the Private Sector is a multilateral organisation, affiliated with the Islamic Development Bank Group. Its shareholders are the Islamic Development Bank, forty-five Islamic member countries, and five public financial institutions from member countries.
The goal of the International Islamic Trade Finance Corporation is to promote trade of the member countries of the Islamic Development Bank through providing trade finance and engaging in activities that facilitate intra-trade.
The Arab Bank for Economic Development in Africa (BADEA) was created under the decisions of Sixth Arab Summit in Algeria on 28th November 1973. The Bank began operation in March 1975 with its Headquarters in Khartoum, the capital of the Republic of Sudan.
EENI delivers to HRH Prince Alwaleed bin Talal a Master Honoris Causa
Sharia - Islamic Law: