Iran to increase its capital in IDB
May 6, 2009
TEHRAN – Iranian President Mahmoud Ahmadinejad signed a bill permitting the government to increase its capital in the Islamic Development Bank (IDB).The government may now increase its capital in IDB from 700 million Islamic dinars to 1.48 billion, the Mehr News Agency reported.
The Islamic Development Bank is a multilateral development financing institution located in Jeddah, Saudi Arabia. It was founded by the first conference of Finance Ministers of the Organization of the Islamic Conference (OIC), convened on 18 December 1973