world_organizations medium MCQ

The OIC's Islamic Development Bank (IsDB) focuses on financing socio-economic development projects in member countries and Muslim communities, emphasizing which of the following principles?

  1. Interest-based lending
  2. Sharia-compliant finance
  3. Cryptocurrency transactions
  4. Sovereign debt restructuring

Answer: Sharia-compliant finance

IsDB operates on Islamic finance principles: profit-and-loss sharing, asset-backed financing, and prohibition of interest (riba). It provides development financing through instruments like Murabaha, Ijara, and Sukuk, promoting inclusive growth in member countries and Muslim minorities globally.

Topic Organisation of Islamic Cooperation
Exam Relevance UPSC, SSC
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