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Islamic Development Bank

This first published study of the Islamic Development Bank charts its progress from the early months to its emergence as one of the leading economic institutions of the Islamic world. Dr Meenai, who played a key role in the foundation of the Bank in 1975 and served as its first Vice President for seven years, outlines the historical evolution of the Bank and reveals the great influence it now exercises on an international scale.

At that time, and during the discussions of the idea of establishing the Bank, my
colleague finance ministers representing some other Islamic countries and
myself had full realisation that we were handling an entirely new project. There
has been no precedent that a group of developing countries alone has come
together for undertaking such a unique project. What made the effort for
establishing IDB much more difficult was the fact that the Bank was to be founded
on Islamic principles ...