Islamic Development Bank (Idb)

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. 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. entities the idb group is a multilateral development institution which consists of five entities. 1 islamic development bank (idb), 2. islamic research and training institute (irti), 3. islamic corporation for th