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Integrating Muslim communities

for sustainable development

Islamic Development Bank

he Islamic Development Bank (IDB) is an

international development financing institu-

tion established in December 1973 to promote

the socioeconomic development of its member coun-

tries, with a focus on the priority areas of alleviating

poverty, improving health standards, promoting educa-

tion, improving governance and enabling the people to

prosper. IDB formally commenced operations in October

1975. Its membership stands at 56 countries spanning

four continents. The IDB vision is that “by the year

2020, the Islamic Development Bank shall have become

a world-class development bank, inspired by Islamic

principles, that has helped significantly transform the

landscape of comprehensive human development in the

Muslim world and helped restore its dignity.”

Cultural harmony, peaceful existence and the promotion of

peace are among the most sought-after objectives of Islam.

Islam wholeheartedly endorses the concept and practice

of community development. The Charter of Madinah,

also known as the Constitution of Madinah, which was

drafted by the Prophet Muhammad shortly after his arrival

at Madinah in 622 CE from Makkah, constituted an agree-

ment between the various Muslim, Jewish, pagan and

Christian groups in Madinah. It declared them to constitute

‘one community’ and formed the basis of a multireligious

Islamic state in Madinah. The Charter also called for peace-

ful methods of dispute resolution among diverse groups

living as one people but without assimilating into one reli-

gion, language or culture.

As an Islamic development financing institution, IDB

fully subscribes to the Islamic vision of the development

and prosperity of humanity. This vision in essence is one

of comprehensive human, economic and societal develop-

ment. At the core of the Islamic vision of development or

comprehensive human development lie the principles of

inclusiveness, community integration and inculcation of

moral and ethical values. The concept of comprehensive

development resonates closely with that of sustainable devel-

opment as their ultimate objectives are the same: ensuring

responsible industrial development with full regard to soci-

etal needs, and morals and ethics that will ensure competent,

responsible and conscientious individuals devoted to the

well-being of their communities and not just themselves.

The world view of most religions, and particularly that

of Islam, emphasizes the concepts of human goodwill and

the well-being of all, regardless of the culture or race of

a community. This concept is very well embedded in the

basic guidelines of IDB in serving humanity and the diverse

communities of its member countries. In Islam, the prime

focus is on the social and ethical foundations of human life.

As such, economic growth does not necessarily attain prec-

edence over other, more fundamental factors that ultimately

lead to just and cohesive societies and thus sustainable

economies. In such economies, individuals accord due

importance to the preservation of natural resources, cultures,

ethics and righteousness. IDB, in pursuance of its mandate

and the necessity to follow the principles of Islam, promotes

economic development that fits perfectly with the definition

of sustainable development.

In today’s technologically-driven world, with an increased

focus on industrial growth, the concept of sustainable

development has not yet emerged as the dominant global

economic development paradigm. One reason for this

is that more often than not a trade-off has to be made

between ensuring sustainable development and achiev-

ing higher industrial growth rates every year. Due to its

absolute necessity for our posterity, ensuring sustainable

development which is often defined as ‘development that

meets the needs of the present without compromising the

ability of future generations to meet their own needs’ has

become a cherished objective of the international develop-

ment community and people at large alike. It is no surprise

then that the international development community has

come to play an increasingly important role in promoting

sustainable development. However, developing and opera-

tionalizing a sustainable development model has proved

a rather difficult task thus far. Sustainable development

where culture plays a prominent role is all the more impor-

tant because without an appreciation of cultural diversity,

societies will not function at their full capacity.

For its part, ever since its inception IDB has been commit-

ted to promoting both economic and social development in

equal measures. For sure, the development of an economy

at the cost of environmental degradation or social break-

down is neither ideal nor sustainable. IDB believes that

human development has to go in tandem with economic

development.

Improving the well-being of the citizens of member coun-

tries is vital for attaining sustainable, inclusive and balanced

economic growth. It is for this reason that investment in the

social sector (particularly education and health) of member

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