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- An Overview of the Activities of the Islamic Development Bank (IsDB): Turkey and Bangladesh
An Overview of the Activities of the Islamic Development Bank (IsDB): Turkey and Bangladesh
Islamic Development Bank (IsDB) is a multilateral bank. The bank aims to assist member countries in socioeconomic development. The fundamental intention of the bank is to practice Islamic banking and finance and to establish the Islamic economic system for universal good. IsDB is working to improve the lives and the livelihood of all Muslims of member (57) and non-member (78) countries. Since 2015 sustainable development goals (SDGs) achievement has been a concern of governments, IsDB and its group are also committed to supporting the Member Countries (MCs) to attain the goals. However, the Covid-19 pandemic has created a global health crisis, and the consequences of the pandemic are lockdown, economic slowdown, and lagging from SDGs attainment. Therefore, this paper aims to investigate how the IsDB is helping MCs to accomplish SDGs during this period. Secondly, the literature states that Bangladesh is the highest receiver of IsDB funding. The paper will try to identify the reasons for this. Uncovering Turkey and the IsDB relationship is the final objective of the writing. Following the desk research approach and case study method, the study reveals the answers to the three objectives. The author believes that with a coordinated effort and being strict with the set strategies, IsDB and its group could achieve its mission despite having many challenges.