Islamic Development Bank
Dr. Ahmad Mohamed Ali is the first President of the Islamic Development Bank, a position he has held for 23 years.
Founded by the OIC member countries on the initiative of the late King Faisal Bin Abdulaziz, the Islamic Development Bank started with a membership of 22 countries and US$185 million for development financing in its first year of operation. Total financing under various windows and modes of financing exceeded $US1.5 Billion by 1998. IDB membership also grew to 53 member countries, and staff was set to reach 800 in 1999.
Dr. Ali has a wealth of experience with developmental issues in the OIC member countries. His views on development have been expressed in many articles, speeches, lectures and working papers on Islamic Economics, Banking and Education. He is a strong believer that Islamic principles and their application in economics and banking can make a significant contribution to solving current economic problems.
He has initiated the development of several sectors including trade, insurance and technology, with the establishment of the Trade Finance Promotion Department, Islamic Corporation for Insurance of Investments and Export Credit (ICIEC), OICIS-NET, TIPSys and the Infrastructure Development Fund.
Dr. Ali has served as Secretary General of the Muslim World League (1993-95); board member of the Saudi Fund for Development; Deputy Minister of Education of the Kingdom of Saudi Arabia (1972-75); Acting Rector of King Abdulaziz University (1967-72); Director, Scientific and Islamic Institute (Aden 1958-59); and is a member of their Higher Education Council of five Saudi universities.
He holds a B.A. (Commerce) and Law degree from Cairo University, Egypt and an M.A. and PhD (Public Administration) from the University of Michigan and State University of New York-Albany, respectively.
Dr. Ali was born and raised in the Prophet's City, Almadinah Almunawarah, Saudi Arabia. He is married and has four children.
Profile as of 9/20/2002