The Islamic Development Bank (IDB) is a multilateral development financing institution located in Jeddah, Saudi Arabia was founded in 1973 by the Finance Ministers at the first Organization of the Islamic Conference. The present membership of the Bank consists of 56 countries. The former president is Mohammed Bin Faisal
On
the
22 May 2013, IDB tripled its authorized capital to $150 billion to better
serve
Muslims in member and non-member
countries. On the basis of paid-up capital, major shareholders
include: Saudi Arabia, Libya, Iran, Egypt, Turkey,
United Arab
Emirates, Kuwait, Pakistan, Algeria, and
Indonesia.