Islamic Development Bank Increases Its Capital To $ 150 Billion

The Board of Governors of Islamic Development Bank Group approved at the conclusion of its annual meetings in the Tajik capital of Dushanbe today the increase of the bank’s capital from $ 45 billion to $ 150 billion.

The Bank said that the increase came in implementation of the decision of the Extraordinary Islamic Summit held in Makkah in December 2005, and in response to the directive of the 4th Extraordinary Islamic Summit held in the last month of Ramadan, which called for a significant increase in the Bank’s capital to meet the growing requirements of development in the Member States.

The meetings were attended by the Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf , who headed the delegation of the Kingdom of Saudi Arabia.

Alriyadh