During the Islamic Development Bank Annual Meeting 2024 in Riyadh, Saudi Arabia, Finance Minister Dr. Mohamed Shafeeq paid a courtesy call today to Dr. Mansur Muhtar, Vice President of the Islamic Development Bank Group, extending congratulations on the bank's 50th anniversary.

Minister Shafeeq, accompanied by Minister of Islamic Affairs Dr. Mohamed Shaheem Ali Saeed and Minister of State for Finance Hussain Sham Adam, is currently leading a prominent Maldivian delegation at the event. 
As the Islamic Development Bank marks its 50th anniversary, the institution reflects on its transformative journey from a nascent entity in 1974 to a premier global force.

With a prestigious AAA credit rating and representation across 57 member countries, the Bank has evolved into a cohesive network of five institutions, signifying significant progress in the development landscape.

Over the past five decades, the Islamic Development Bank (IsDB) has been a pivotal force for progress, spearheading critical development initiatives valued at an impressive $182 billion.

These projects have encompassed vital sectors including basic infrastructure, agriculture, health, education, energy, trade, and Islamic finance.

Emphasizing the bank's substantial impact, officials underscored its role in enhancing the livelihoods of millions, with a particular focus on vulnerable populations.