The Islamic Development Bank was set up in the 1973 by the Organisation of the Islamic Conference, a major special-interest group composed of 57 Muslim-majority countries (it is in fact the second-largest international organisation in the world after the UN), which, despite its stated aim of ‘promoting Islamic values’ seems to do little other than make repeated attempts to ban criticism of Islam via its placemen on the UN Human Rights Council. (My Note: perhaps that's their way of promoting Islamic values...).

The bank itself helps spread hardline Saudi Wahabbism, funding worldwide mosque-building and Da’wah, the proselytism of Islam. For a more detailed explanation of this work, see the testimony submitted in 2003 to a US Senate Committee here (this reveals evidence relevant to the United States, but the bank funds the promotion of hardline Islam worldwide).

Among many other activities, the bank controls two funds set up at an Arab summit in Cairo, in October 2000 – the Al-Quds Fund and the Al-Aqsa Fund. Between them worth hundreds of millions of dollars, these funds openly finance the ‘Palestinian Intifada’. It is also linked with the channeling of UN funds to Hamas.

Stated aims of the fund include the provision of assistance to the widows and families left behind by ‘martyrs’; and the furtherance of the ‘reststance’ against Israel.

Source (more information and commentary).

(Tip to Un:Dhimmi)

Related: The Intifada Fund and the BBC.