Which international Islamic institution, headquartered in Jeddah, provides development financing to member countries following Islamic principles?

Explanation

– The Islamic Development Bank, headquartered in Jeddah, Saudi Arabia, provides development financing to its member countries in accordance with Islamic financial principles, avoiding interest-based lending.
– Established in 1975, this institution supports various economic and social development projects across the Muslim world through Shariah-compliant financing mechanisms.
– For exams, note that this institution operates independently from, though often in coordination with, broader organizations like the OIC.