The Islamic Development Bank is a multilateral development finance institution based in Jeddah, Saudi Arabia, set up by the member states of what is now the Organisation of Islamic Cooperation. Its purpose is to promote economic and social development in Muslim countries and communities, financing projects in areas such as infrastructure, health, education and agriculture, and its operations follow the principles of Islamic finance, such as the ban on interest. It began working in the mid-1970s and has grown to include over fifty member countries, from Africa and Asia to the Middle East. The bank also supports trade and has set up affiliated bodies for private-sector investment and insurance.
Before and after
- 1973Mobile phone
- 1973Construction of Van Gogh Museum
- from 1973 to 2018Oromo conflict
- 1973Publication of The Gulag Archipelago
- 1973Founding of Islamic Development Bank
- 1973Establishment of Hortobágy National Park
- 1973Establishment of Kilimanjaro National Park
- 1973The Endangered Species Act and CITES
- 1973Cohen and Boyer create the first recombinant DNA organism
More in Society, economy & sport
- 7 April 1948Founding of World Health Organization
- 1950Origins of Formula One
- 1959HIV/AIDS
- 8 August 1967Founding of ASEAN
- 9 September 1999Founding of African Union
- from 15 November 2019 to 5 May 2023COVID-19 pandemic
The era
This moment belongs to the Contemporary world (1945 CE to today), the world since 1945. You can also browse everything in the 20th century.