Editing Islamic Development Bank (section)

==History==
It was founded in 1973 by the Finance Ministers at the first Organisation of the Islamic Conference (now called the [[Organisation of Islamic Cooperation]]) with the support of the [[King of Saudi Arabia]] at the time ([[Faisal of Saudi Arabia|Faisal]]), and began its activities on 3 April 1975.<ref>{{cite web|last=Epstein|first=Matthew|title=Saudi Support for Islamic Extremism in the United States|url=http://www.islamdaily.org/Media/Documents/091003_epstein.pdf|publisher=Islam Daily|access-date=22 April 2012|date=September 2003|archive-url=https://web.archive.org/web/20131219020631/http://www.islamdaily.org/Media/Documents/091003_epstein.pdf|archive-date=19 December 2013|url-status=dead}}</ref>

On 22 May 2013, IsDB tripled its authorized capital to $150 billion to better serve Muslims in member and non-member countries.<ref>[https://www.reuters.com/article/islamic-finance-idb-idUSL6N0E32P920130522 Islamic Development Bank triples authorised capital]| reuters.com|2013/05/22</ref> The Bank has received credit ratings of AAA from Standard & Poor's,<ref>{{cite web|url=http://www.isdb.org/irj/go/km/docs/documents/IDBDevelopments/Internet/English/IDB/CM/Resources_For/StanderedPoors.html|title=Capital Markets|publisher=ISDB|access-date=25 May 2018|archive-date=4 March 2016|archive-url=https://web.archive.org/web/20160304083836/http://www.isdb.org/irj/go/km/docs/documents/IDBDevelopments/Internet/English/IDB/CM/Resources_For/StanderedPoors.html|url-status=dead}}</ref> Moody's,<ref>{{cite web|url=http://www.isdb.org/irj/go/km/docs/documents/IDBDevelopments/Attachments/Capital%20Market/RatingReportsMoodys.pdf|title=Moody's rating|publisher=ISDB|access-date=25 May 2018|archive-date=4 March 2016|archive-url=https://web.archive.org/web/20160304065817/http://www.isdb.org/irj/go/km/docs/documents/IDBDevelopments/Attachments/Capital%20Market/RatingReportsMoodys.pdf|url-status=dead}}</ref> and Fitch.<ref>{{cite web|url=http://www.isdb.org/irj/go/km/docs/documents/IDBDevelopments/Internet/English/IDB/CM/Resources_For/Fitch_rating.pdf|title=Fitch rating|publisher=ISDB|access-date=25 May 2018|archive-date=12 July 2017|archive-url=https://web.archive.org/web/20170712074257/http://www.isdb.org/irj/go/km/docs/documents/IDBDevelopments/Internet/English/IDB/CM/Resources_For/Fitch_rating.pdf|url-status=dead}}</ref> Saudi Arabia holds about one quarter of the bank's paid up capital.<ref name=groupbrief /> The IDB is an [[United Nations General Assembly observers|observer]] at the [[United Nations General Assembly]].