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Topic: Islamic Development Bank

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	Islamic development bank to extend dlrs four billion to membe... (Site not responding. Last check: 2007-10-21)
		Islamic development bank to extend dlrs four billion to membe...
		Tehran, sept. 12, irna -- president of the jeddah-based islamic development bank (idb) ahmed mohamed ali said in tehran on sunday the oic-affiliated bank would extend dlrs four billion dollars credit to the member states to boost trade among the muslim nations.
		iranian deputy minister of finance and the economic affairs mehdai navab said the islamic republic of iran is the fourth shareholder of the bank.
	www.iraniantrade.org /_NewsUpdates/000002c1.htm (353 words)

	Islamic Development Bank - English Home Page
		Islamic Development Bank - Unit Investment Fund (the Fund) is a trust fund incorporated in the Kingdom of Saudi Arabia and established under Article 22 of the Articles of Agreement of Islamic Development Bank (IDB or the Bank).
		The objective of the Fund is to participate in the economic development of the member countries of the Bank through the pooling of the savings of institutional and individual investors and to invest these savings in the member countries of IDB and other countries in accordance with the principles of Islamic Shariah.
		IDB is entitled to a 10% share of net profit of the Fund as a Mudarib; this amount is separately shown as an appropriation of net income.
	www.idb-uif.org /T_7.htm (989 words)

	Statement by Islamic Development Bank at the International Conference on Financing for Development; Monterrey, Mexico; ...
		The Bank is also associated with the Special Programme of Emergency Aid to Sahelian Member Countries and participates in the programme of the Permanent Inter-State Committee on Drought Control in the Sahel (CILSS), which aims at combating the effects of chronic drought in the OIC countries of the Sahel region.
		Development of the Bank into the IsDB Group is one of the key strategic actions taken to enable it to respond to the developmental challenges and to meet the growing developmental requirements of the member countries.
		Along the same lines, the Islamic banks could play a role in the collection of the compulsory contributions that have to be made to the poor by the wealthy in the Islamic tradition, as a substantive contribution to the fund mobilization effort directed to poverty alleviation.
	www.un.org /ffd/statements/idbE.htm (5522 words)

	Islamic Development Bank plans $1 billion sukuk - Zawya.com \| Middle East Business News (Site not responding. Last check: 2007-10-21)
		THE Islamic Development Bank (IDB) is planning to launch a medium-term sukuk to raise $1 billion, in tranches, during 2005 with the first tranche of $500 million is expected to come to the market within two months.
		Promotion of Islamic banking is a key component of the three-pronged plan, which is the first of its kind to be developed by the Jeddah-based IDB.
		The offering circular for the bank, which will have a paid-up capital of $100 million, is ready, with the bank scheduled to come into operation during the first quarter of the year.
	www.zawya.com /Story.cfm?id=ZAWYA20050126073508&pagename=SukukMonitor (573 words)

	Islamic Development Bank seeks closer ties (Site not responding. Last check: 2007-10-21)
		Based in Jeddah, Saudi Arabia, the IDB is an international financial institution established in 1973 with the purpose of fostering the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Islamic Law.
		He suggested that perhaps the bank was holding its annual meeting in the region in an effort to raise its profile.
		"With financial support from the IDB we expect to successfully accomplish the ongoing projects in the sphere of building and rehabilitation of motorways, and are looking forward to further cooperation in the sphere of transport, communications and transit, particularly in the development of the infrastructure for transportation of Kazakh oil," Nazarbaev said.
	www.irinnews.org /print.asp?ReportID=36368 (489 words)

	Islamic Bank
		The Islamic Development Bank was established in l974 by the Organization of Islamic Countries (OIC) primarily as an intergovernmental bank aimed at providing funds for development projects in member countries.
		Islamic banks are inclined to be more concerned about the viability of the project and the profitability of the operation rather than the size of the collateral.
		Islamic banking has three distinguishing features: (a) it is interest-free, (b) it is multi-purpose and not purely commercial, and (c) it is strongly equity-oriented.
	www.millennium-money.com /islamic_bank.htm (1917 words)

	::IDB Group - IRTI:: (Site not responding. Last check: 2007-10-21)
		IRTI is member of the Islamic Development Bank Group.
		The purpose of IRTI is to undertake research for enabling the economic, financial and banking activities in Muslim countries to conform to Shari'ah and to extend training facilities to personnel engaged in economic development activities in the Bank's member countries.
		IDB Prize in Islamic Economics (English, Arabic, French)
	www.irti.org (193 words)

	[ITB] islamic development bank
		dari homepage Islamic development Bank: xoxoxoxoxoxoxoxoxoxoxoxoxoxoxxoxoxoxox< ihsan >xoxoxoxoxoxxoxo ============= IDB IN BRIEF ============= Establishment -------------- The Islamic Development Bank is an international financial institution established in pursuance of the Declaration of Intent issued by the Conference of Finance Ministers of Muslim Countries held in Jeddah in Dhul Q'adah 1393H, corresponding to December 1973.
		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.
		The basic condition for membership is that the prospective member country should be a member of the Organization of the Islamic Conference, 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.
	www.mail-archive.com /itb@itb.ac.id/msg07814.html (542 words)

	The Islamic Development Bank (IDB) Group (Site not responding. Last check: 2007-10-21)
		The Islamic Development Bank has pledged a sum of US$11.8 million to help the victims of the Earthquake which ravaged the North of Pakistan and Kashmir.
		The Islamic Development Bank held a regional workshop in Dubai on IDB 1440H Vision, an exercise the Bank is conducting in its member countries
		IDB Prize for Islamic Economics 1425H -(English, Arabic)
	www.isdb.org (212 words)

	Articles - Islamic Development Bank (Site not responding. Last check: 2007-10-21)
		It was founded by the first conference of Finance Ministers of the Organization of the Islamic Conference (OIC), convened 18 December 1973, which is 24 Dhul Qa'da 1393H on the Islamic calendar.
		The purpose of the Bank is to foster the economic development and social progress of member countries and Muslim communities in non-member countries individually as well as jointly in accordance with the principles of shari'ah.
		The unit of account of the bank is the Islamic Dinar.
	www.gaple.com /articles/Islamic_Development_Bank (267 words)

	[No title] (Site not responding. Last check: 2007-10-21)
		Pursuing the policy of developing cooperation with other international financial institutions (IFIs), the Black Sea Trade and Development Bank signed Memorandum of Understanding with the Islamic Development Bank on December15, 2001 in Istanbul.
		Islamic Development Bank (IDB) is an international financial institution established in 1975 with headquarters in Jeddah (Saudi Arabia).
		USD 19,5 billion), the Bank is mandated to foster economic development and social progress in member countries by participating in equity capital and granting loans to enterprises for productive projects, and providing other forms of financial assistance.
	www.bstdb.gr /press/pr-20011215-idb.htm (165 words)

	Islamic Finance Interactive (Site not responding. Last check: 2007-10-21)
		Islamic banks must find alternative ways to invest surplus liquidity to secure better risk ratings, said Gordon Scott, managing director of financial institutions at Fitch Ratings.
		Scott said banks were attempting to create an inter-bank market compliant to Islamic laws, but few institutions opted to participate since it requires a great deal of documentation.
		The bank said that the upfront fee would depend on the size of the project but the minimum fee was $150,000.
	www.emergingfinance.com /islamiccapitalmarkets.html (1779 words)

	Islamic Development Bank - English Home Page
		The IDB Unit Investment Fund (the Fund) is a Trust Fund established in 1989 under Article 23 of the Articles of Agreement establishing the Islamic Development Bank (the
		It is managed by the Islamic Development Bank in accordance with the Islamic concept of Mudarabah and the Regulations establishing the Fund.
		The IDB undertakes the role of Mudarib acting as Manager and Trustee of the Fund.
	www.idb-uif.org /Gen-info.1.htm (156 words)

	I DB Forms (Site not responding. Last check: 2007-10-21)
		IDB agrees to sell to the Importer, and the Importer agrees to purchase, the Goods from IDB on the basis of Morabaha in accordance with the terms and conditions hereinafter set out.
		IDB on receipt of the said tested telex shall arrange for the Exporter's banker to be reimbursed for any payment made by it under the Letter of Credit.
		Such reimbursement will be made by a first class correspondent bank of IDB against a receipt by such correspondent bank of a Certificate from the Exporter banker that all relevant terms of the Letter of Credit have been fully and properly complied with.
	www.ugandaexportsonline.com /facilitation2.htm (2628 words)

	Islamic Development Bank (Site not responding. Last check: 2007-10-21)
		The IDB is a multilateral financial institution with 54 countries of the Organization of the Islamic Conference as its members.
		The Jeddah (Saudi Arabia) based bank was inaugurated on 20th October 1975.
		The Bank's financing mode based on the Islamic Shari'ah includes grants, interest free loans, profit sharing, equity participation, leasing murabaha, installment sale, istisna'a and technical assistance.
	www.pakpost.gov.pk /philately/stamps99/idb.html (101 words)

	[No title] (Site not responding. Last check: 2007-10-21)
		During the meeting, Erbakan conveyed to the bank chairman his proposals for improving the dynamism of the establishment.
		Erbakan urged Islamic countries to cooperate and to support each other by using equipments produced in Islamic countries and facilitate the payments for the purchase of such equipment.
		Erbakan recalled that Turkey had been one of the founders of the bank and demanded an increase in the number of the Turkish personnel employed in the bank, presently numbering only three.
	www.byegm.gov.tr /yayinlarimiz/NEWSPOT/1997/7-8/N21.htm (171 words)

	Islamic Development Bank donates $10 million to tsunami victims
		The Jeddah-based Islamic Development Bank (IDB) has allocated U.S. $10 million in emergency aid to Indonesia, the Maldives, Somalia, Thailand, India and Sri Lanka.
		The Bank has also dispatched a delegation to the affected areas to survey the devastation and coordinate relief efforts with local authorities.
		The Islamic Development Bank is a multilateral financing institution established in 1973 to foster social and economic development of member countries and Muslim communities world-wide. IDB currently has fifty-five members.
	www.saudiembassy.net /2005News/News/IslDetail.asp?cIndex=4923 (170 words)

	IEP-SAC - Islamic Development Bank and Its Role in Financing Projects (Site not responding. Last check: 2007-10-21)
		The Islamic Development Bank started during the Second Foreign Ministers Conference held in Karachi when the idea of establishing an International Bank for the Organization of Islamic Conference (OIC) member countries was promoted.
		The membership of the IDB grew from the 22 founding members (Pakistan being one of them) at its inception in 1975 to 53 members now stretching from Senegal in the West to Indonesia in the Far East and with Suriname as a foot hold in Latin America.
		The basic condition for membership is that the prospective member country should be a member of the Organization of the Islamic Conference, pays its contribution to the capital of the IDB and be willing to accept such terms and conditions as may be decided upon by the IDB Board of Governors.
	www.iepsac.org /papers/p08a01.htm (419 words)

	icd-idb.org - Islamic corporation for the Development of the private sector (Site not responding. Last check: 2007-10-21)
		To be a major player in the development and promotion of the private sector as a vehicle for economic and social growth and prosperity in member countries.
		The meetings were in conjunction with the 30th Meeting of the Board of Governors of the Islamic Development Bank (IDB) at the Putrajaya International Convention Center (PICC) in Putrajaya, Malaysia.
		ICD Headquarters, 31st May 2005 _ The Islamic Corporation for the Development of the Private Sector (ICD) participated in the Turkish-Arab Economic Forum (5-6 May 2005), organized by Al-Iktissad Wal Aamal Group in Istanbul, Turkey, to focus on the prospects and opportunities of Turkish-Arab economic relations and ways of promoting their development and expansion.
	www.icd-idb.com (518 words)

	Islamic countries to fund science development network - SciDev.Net (Site not responding. Last check: 2007-10-21)
		According to sources within the IDB, the plans are due to be finalised at the 29th annual meeting of the IDB board of governors, which opens today (14 September) in Tehran, Iran.
		The network will be made up of scientists who have benefited from the IDB merit scholarship programme, and will promote the training of scientists and technologists in the Islamic world by arranging workshops, training programmes and conferences on different fields of science and technology within the Islamic world.
		In addition, 120 IDB scholars from 16 least developed member countries that have benefited from the MSc programme may also be included in the proposed network.
	www.scidev.net /News/index.cfm?fuseaction=readNews&itemid=1597&language=1 (516 words)

	3rd Islamic Summit \| on economical matters (Site not responding. Last check: 2007-10-21)
		The Director of the Center shall be appointed by the Secretary with the provisions of Article 6, paragraph 2 of the Charter of the Organization of the Islamic Conference and in accordance with the provisions of rule IV of the Regulations of the Personnel of the Organization of the Islamic Conference.
		Develop periodical, regular freight and passenger voyages between ports of member states and between Islamic and other ports giving preferential treatment to the Maritime Companies of the member states in transporting the goods of the Islamic countries.
		The General Secretariat of the Organization of the Islamic Conference or the General Secretariat of the Islamic Chamber of Commerce, Industry and Commodity Exchange and other organs of the OIC whose activities are related to the Association shall attend meetings held within the framework of the Association.
	www.oic-oci.org /english/is/3/3rd-is-sum(economical).htm (9034 words)

	IIFM endorses Solidarity Trust Services Limited $300 million Islamic bonds (Sukuk) Guaranteed by The Islamic ... (Site not responding. Last check: 2007-10-21)
		The issue is unique in almost all its aspects ranging from the issuer, the guarantor, the arranger and more importantly the innovative structure of the deal, which is a combination of securitization of ijarah, murarabah and Istisna contracts with a minimum of 51% on the Ijara assets.
		The Islamic Development Bank (IDB) is a multilateral development finance institution, which has been a strong supporter of the development of Islamic capital and a keen advocate of its success.
		Islamic banks, thus, have devised a variety of alternative instruments, primarily based on profit and loss sharing principle.
	www.zawya.com /Story.cfm?id=ZAWYA20030813115604&pagename=SukukMonitor (428 words)

	ReliefWeb » Document Preview » The Islamic Development Bank allocates us$ 500 millions assistance to the ... (Site not responding. Last check: 2007-10-21)
		Cisse indicated that the amount would be utilized to provide relief and to reconstruct dilapidated infrastructure in the countries concerned, especially in the education, health, water, energy and transport sectors.
		He further stated that the Bank would reformulate its current work plan in the affected countries so as to suit the urgent reconstruction needs of the countries affected.
		He also indicated that the bank would dispatch separate missions to Indonesia, the Maldives and Sri Lanka to provide emergency aid, which would be followed by field trips to fully assess reconstruction projects.
	www.reliefweb.int /rw/RWB.NSF/db900SID/MHII-68R9RN?OpenDocument (259 words)

	Khaleej Times Online
		Ali said Iraqi central bank governor Senan Al-Shabebi will travel to Jeddah soon to sign a memorandum of understanding to launch the fund, which will be used to finance projects in the fields of education, health, road and general infrastructure.
		It’s a challenge to the IDB to participate effectively in the reconstruction,” Ali told reporters on the sidelines of an Islamic trade forum here.
		The Saudi-based IDB is the financial arm of the Organization of the Islamic Conference.
	www.khaleejtimes.com /DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June124.xml§ion=focusoniraq (263 words)

	GN Online: Islamic Development Bank shifts focus to private sector (Site not responding. Last check: 2007-10-21)
		Taha was addressing delegates at a seminar on IDB and ICIEC organised by the Ministry of Finance and Industry in association with Abu Dhabi Islamic Bank, IDB and the Abu Dhabi Chamber of Commerce and Industry.
		He urged Islamic organisations to enhance their financing to help members of the OIC cope with challenges, and called for regional and joint cooperation among Islamic countries in developing the private sector.
		The IDB holds a 50 per cent equity while the rest is held by OIC countries.
	www.gulf-news.com /Articles/news.asp?ArticleID=18235 (555 words)

	ISLAMIC DEVELOPMENT BANK OICIS-NET PROJECT
		These developments are global in nature and therefore, affect both the developed and developing countries though in varying degrees.
		Since the OICIS-NET project has been assigned to IDB based on the recommendations of the 5th Islamic Summit held in Kuwait in 1987, all PTTs in the member countries should be advised to provide full support for the implementation of OICIS-NET, in particular, PTT circuits should be easily made available at a nominal cost.
		The objective of the OICIS-NET project, being implemented by IDB, is to improve the flow, exchange and sharing of information resources among the OIC member countries in order to foster co-operation and co-ordination in all sectors of development.
	www.unesco.org /webworld/public_domain/tunis97/com_02/com_02.html (4796 words)

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