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    Purpose: Projects Member Countries Special Funds

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    bobby perdana
    The purpose of the Islamic Development Bank is to foster economic development and social progress among its member countries in accordance with Islamic principles. It aims to reduce poverty and achieve sustainable development by providing financing to productive projects, establishing special funds, and offering technical assistance and training. The Bank works to bridge the economic divide between rich and poor countries. It currently has 57 member countries that must be members of the Organization of Islamic Cooperation and agree to the Bank's terms.

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    Purpose: Projects Member Countries Special Funds

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    bobby perdana
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    The purpose of the Islamic Development Bank is to foster economic development and social progress among its member countries in accordance with Islamic principles. It aims to reduce poverty and achieve sustainable development by providing financing to productive projects, establishing special funds, and offering technical assistance and training. The Bank works to bridge the economic divide between rich and poor countries. It currently has 57 member countries that must be members of the Organization of Islamic Cooperation and agree to the Bank's terms.

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    The purpose of the Islamic Development Bank is to foster economic development and social progress among its member countries in accordance with Islamic principles. It aims to reduce poverty and achieve sustainable development by providing financing to productive projects, establishing special funds, and offering technical assistance and training. The Bank works to bridge the economic divide between rich and poor countries. It currently has 57 member countries that must be members of the Organization of Islamic Cooperation and agree to the Bank's terms.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    18 views2 pages

    Purpose: Projects Member Countries Special Funds

    Uploaded by

    bobby perdana
    The purpose of the Islamic Development Bank is to foster economic development and social progress among its member countries in accordance with Islamic principles. It aims to reduce poverty and achieve sustainable development by providing financing to productive projects, establishing special funds, and offering technical assistance and training. The Bank works to bridge the economic divide between rich and poor countries. It currently has 57 member countries that must be members of the Organization of Islamic Cooperation and agree to the Bank's terms.

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    Purpose

    The purpose of the Bank is to foster the economic development and social progress of member countries
    and Muslim communities individually as well as jointly in accordance with the principles of Shari'ah i.e.,
    Islamic Law.

    Working to foster global monetary cooperation, secure financial stability, facilitate international trade,
    promote high employment and sustainable economic growth, and reduce poverty around the world.

    The Bank's stated purpose is to "bridge the economic divide between poor and rich countries." It does this
    by turning "rich country resources into poor country growth. It has a long-term vision to "achieve
    sustainable poverty reduction."

    Functions

    The functions of the Bank are to participate in equity capital and grant loans for productive
    projects and enterprises besides providing financial assistance to member countries in other forms for
    economic and social development. The Bank is also required to establish and operate special funds for
    specific purposes including a fund for assistance to Muslim communities in non-member countries, in
    addition to setting up trust funds. The Bank is authorized to accept deposits and to mobilize financial
    resources through Shari'ah compatible modes. It is also charged with the responsibility of assisting in the
    promotion of foreign trade especially in capital goods, among member countries; providing technical
    assistance to member countries; and extending training facilities for personnel engaged in development
    activities in Muslim countries to conform to the Shari'ah.

    The principal function of the IMF is to supervise the international monetary system. Several
    functions are derived from this. These are: granting of credit to member countries in the midst of
    temporary balance of payments deficits, surveillance over the monetary and exchange rate policy of
    member countries, issuing policy recommendations.

    To overcome poverty by spurring growth especially in Africa. Help reconstruct countries


    emerging from war, the biggest cause of extreme poverty. Provide a customized solution to help middle-
    income countries remain out of poverty. Spur governments to prevent climate change. It helps
    them control communicable diseases, (especially HIV/AIDS and malaria). It also manages international
    financial crises and promotes free trade. Work with the League of Arab States three areas. They are to
    improve education, build infrastructure, and provide micro-loans to small businesses. Share its expertise
    with developing countries. Share its knowledge with everyone via reports and its interactive online
    database.

    Membership

    The present membership of the Bank consists of 57 countries. The basic condition for
    membership is that the prospective member country should be a member of the Organisation of
    Islamic Cooperation (OIC), pay its contribution to the capital of the Bank and be willing to
    accept such terms and conditions as may be decided upon by the IDB Board of Governors.

    Although IMF and world bank consists of 188 countries and 360 countries,
    this data is bigger than the member of IDB.

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