Full formOrganisations
IDBstands forIslamic Development Bank
Full Form of IDB
What is IDB?
The Islamic Development Bank (IDB) is a multilateral development finance institution established in 1973 to foster economic development and social progress in member countries and Muslim communities worldwide. Headquartered in Jeddah, Saudi Arabia, it operates under Islamic Sharia principles, offering interest-free loans, profit-sharing, and other Sharia-compliant financial instruments. In India, the IDB has funded several projects in sectors such as education, healthcare, and infrastructure, particularly in regions with significant Muslim populations. The bank collaborates with Indian institutions to support poverty alleviation and sustainable development initiatives. The IDB is often mentioned in international affairs sections of competitive exams like UPSC, IBPS, and other banking examinations, where its role as a key player in Islamic finance and development is highlighted. It stands distinct from other development banks due to its ethical and religious framework, making it a unique entity in global finance.
IDB का फुल फॉर्म
इस्लामिक विकास बैंक
Example
The Islamic Development Bank (IDB) recently approved a $50 million loan for upgrading healthcare facilities in Kerala.
IDB — frequently asked questions
What is the full form of IDB?
The full form of IDB is the Islamic Development Bank, a multilateral development finance institution established in 1973 to promote economic development in member countries using Sharia-compliant financing.
What is the role of IDB in India?
The IDB funds development projects in India, particularly in education, healthcare, and infrastructure, using interest-free loans and other Islamic financial instruments. It supports initiatives that align with India's development goals.
Is IDB relevant for UPSC and banking exams?
Yes, the IDB is frequently covered in UPSC civil services exams, IBPS, and other banking exams under topics like international organizations, Islamic finance, and global development institutions.