Purpose

The purpose of the Bank is to foster the economic development and social progress of member countries
and Muslim communities individually as well as jointly in accordance with the principles of Shari'ah i.e.,
Islamic Law.

Working to foster global monetary cooperation, secure financial stability, facilitate international trade,
promote high employment and sustainable economic growth, and reduce poverty around the world.

The Bank's stated purpose is to "bridge the economic divide between poor and rich countries." It does this
by turning "rich country resources into poor country growth. It has a long-term vision to "achieve
sustainable poverty reduction."

Functions

The functions of the Bank are to participate in equity capital and grant loans for productive
projects and enterprises besides providing financial assistance to member countries in other forms for
economic and social development. The Bank is also required to establish and operate special funds for
specific purposes including a fund for assistance to Muslim communities in non-member countries, in
addition to setting up trust funds. The Bank is authorized to accept deposits and to mobilize financial
resources through Shari'ah compatible modes. It is also charged with the responsibility of assisting in the
promotion of foreign trade especially in capital goods, among member countries; providing technical
assistance to member countries; and extending training facilities for personnel engaged in development
activities in Muslim countries to conform to the Shari'ah.

The principal function of the IMF is to supervise the international monetary system. Several
functions are derived from this. These are: granting of credit to member countries in the midst of
temporary balance of payments deficits, surveillance over the monetary and exchange rate policy of
member countries, issuing policy recommendations.

To overcome poverty by spurring growth especially in Africa. Help reconstruct countries

emerging from war, the biggest cause of extreme poverty. Provide a customized solution to help middle-
income countries remain out of poverty. Spur governments to prevent climate change. It helps
them control communicable diseases, (especially HIV/AIDS and malaria). It also manages international
financial crises and promotes free trade. Work with the League of Arab States three areas. They are to
improve education, build infrastructure, and provide micro-loans to small businesses. Share its expertise
with developing countries. Share its knowledge with everyone via reports and its interactive online
database.

Membership

The present membership of the Bank consists of 57 countries. The basic condition for
membership is that the prospective member country should be a member of the Organisation of
Islamic Cooperation (OIC), pay its contribution to the capital of the Bank and be willing to
accept such terms and conditions as may be decided upon by the IDB Board of Governors.

Although IMF and world bank consists of 188 countries and 360 countries,
this data is bigger than the member of IDB.