In Riyadh at Fifty Declaration


                                                                      بسم الله الرحمن الرحيم      

                  "وَٱلۡعَصۡرِ (١) إِنَّ ٱلۡإِنسَٰنَ لَفِي خُسۡرٍ(٢) إِلَّا ٱلَّذِينَ ءَامَنُواْ وَعَمِلُواْ ٱلصَّٰلِحَٰتِ وَتَوَاصَوۡاْ بِٱلۡحَقِّ وَتَوَاصَوۡاْ بِٱلصَّبۡرِ (٣)


In the name of Allah, Most Gracious, Most Merciful

"By the passage of time! Surely humanity is in grave loss, except those who have faith, do good, and urge each other to the truth, and urge each other to perseverance"

Expressing deep gratitude to member countries for our long-standing partnership for development while embracing sustainability, diversity and inclusivity, respecting countries’ uniqueness and priorities.

Recognizing the success of our institution, the Islamic Development Bank (IsDB), over fifty years of service, with the grace of Allah and subsequently with the support and patronage of our governments and the efforts of IsDB’s officers;

Appreciating the perseverant developmental work undertaken by the IsDB since its inception in line with the fundamental principles of our Ummah and the national priorities of our countries, stemming from Islamic solidarity and international cooperation;

Affirming the unique role of the IsDB as a leading international development institution in Islamic finance, emanating from and representing fifty-seven countries from the South and meeting their needs and aspirations;

Leveraging the accumulated achievements in this regard, with the IsDB having contributed, directly and through its entities, to promoting economic cooperation, investment, and intertrade, and to mobilizing and channeling funds and other resources flowing from within and beyond the member countries in order to drive economic and social development, build capacities, and respond to challenges and emergency crises locally and globally, while embracing innovative tools, approaches and technologies; and

Seeking inspiration from the spirit of the Declaration of Intent that paved the way for the establishment of the IsDB and contemplated its role and strategic directions, while also considering changes as well as future challenges and opportunities and aligning with our originality and solidarity,

We renew our firm commitment to continue our mission toward realizing economic and social development, leading to the common prosperity of our Ummah.

We urge the leadership of the Group to work on the following key enablers, with a view to preparing our institution, the IsDB Group, to continue to serve this noble mission in the coming phase:

  1. Continuing to advance the overall structure and governance framework of the Group to achieve greater clarity and integration of the roles of its entities to reach optimum levels of performance and financial sustainability, guided by recognized international practices.
  2. Increasing the level of concessional financing through an institutional mechanism that would ensure effective mobilization of resources in order to respond optimally to the increasing financing needs faced by member countries, including but not limited to the least developed member countries. This would be done by balancing the continued growth of IsDB’s operations with its financial sustainability.
  3. Increasing the volume of grants through international partnerships and platforms that would ensure effective mobilization of complementary resources from official donors and from the private and third sectors so as to respond adequately to the growing development needs of the most vulnerable social groups in light of the disasters and difficulties experienced by an increasing number of our member countries and Muslim communities.
  4. Strategically positioning the IsDB Group within the Islamic financial sector by consolidating its leading role in the sukuk market, expanding and deepening local and international Islamic capital markets and directing their resources to support development; developing regulatory and legal environments; building capacities; and mobilizing the necessary partnerships.
  5. Strategically positioning the IsDB Group within the South-South cooperation arena by consolidating its role in promoting regional integration, intra-regional investments, intertrade, and exchange of developmental expertise and experience; developing regulatory and institutional environments; building capacities; and mobilizing the necessary partnerships.

From Allah alone we seek success.