The Capital Base, Devt Financing of IsDB Has Exceeded $182b Since Inception

Ugo Aliogo, in Riyadh, Saudi Arabia

The Chairman, Islamic Development Bank Group (IsDB) Dr. Muhammad Al Jasser, has stated that since the inception of the bank as a single institution comprising 22 countries, the capital base and development financing have witnessed a huge increase, with IsDB’s total approvals exceeding USD 182 billion, which is geared to the financing of more than 12,000 development projects.

He also stated that the bank has evolved into a group of five institutions with 57 member countries spread across four continents.

Al Jasser, who disclosed yesterday in Riyadh, Saudi Arabia, during the IsDB golden jubilee celebration and gala dinner, said these achievements were enabled primarily by the grace of Allah Almighty and subsequently by the concerted efforts of their member countries, which have been their partners in building the great edifice thanks to their continued confidence and strong support.

He commended the members of the Board of Governors and the Board of Executive Directors for their trust in the Bank and the leading role they have been playing in guiding IsDB’s trajectory with perseverance and wisdom, adding that they have always been there for them and with their help, support, and crucial leverage toward achieving their goals and mission.

According to him, “I extend my sincere thanks and appreciation to the previous heads of IsDB, who exerted tremendous efforts and contributed with utmost effectiveness to building a lofty edifice for joint Islamic action.

“I would like to express special thanks to the IsDB President Emeritus, His Excellency Dr. Ahmed Mohamed Ali, who dedicated his career to serving this institution and contributed greatly to its success and luminance. He is sharing these moments with us in real-time from his home in Jeddah.

“I also express deep gratitude to all past and present IsDB staff members who have been the cornerstone of this institution and a key pillar of the successes it has achieved, ultimately positioning IsDB as a world-class development institution.

“I would like to assure you that while we cherish our extensive past and inspiring present, we are charting our future with the same intent and optimism. We are currently studying plans to draw up a new strategy for IsDB.”