The
Islamic Development Bank (
IDB) (Arabic: البنك الإسلامي للتنمية ) is a multilateral development financing institution located in
Jeddah,
Saudi Arabia. It was founded in 1973 by the Finance Ministers at the first Organisation of the Islamic Conference (now called the
Organisation of Islamic Cooperation) with the support of the king of Saudi Arabia at the time (
Faisal), and began its activities on 20 October 1975. There are 56
shareholding member states.
Mohammed bin Faisal is the former president of the IDB.