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Home / DFI Index / DFI Transparency Index 2023 / IsDB
DFI

DFI Transparency Index 2023

IsDB

Score:
7.0
Position:
9 / 9

Overview

The Islamic Development Bank (IsDB) is a multilateral development finance institution that is focused on Islamic finance for infrastructure development. IsDB was established in 1975. Major shareholders of IsDB are Saudi Arabia (26.57%), Algeria (10.66%) and Iran (9.32%). 

Analysis

IsDB performed very poorly in our sovereign assessment, coming last with a score of 7 out of 100. While IsDB has a project database, it was unavailable during both rounds of our assessment. As such, IsDB failed all project-level indicators in the index. It came in the bottom two for all components. 

IsDB came last in the Core Information component with a score of 0.75 out of 30. It only scored points for its annual report. 

IsDB did not score any points in the Impact Management component, coming last. 

IsDB came second-last in the ESG and Accountability to Communities component with a score of 5.5 out of 30. It scored 50% for the E&S global disclosure policy indicator and 25% for the E&S community disclosure policy. IsDB does not have an independent accountability mechanism (IAM), therefore did not score for any of the indicators relevant to that.  

IsDB came joint last in the Financial Information component, scoring 0.75 out of 10. It only scored for the financial reports/statements indicator. 

Core Information 0.75 / 30
Impact Management 0 / 30
ESG & Accountability to Communities 5.5 / 30
Financial Information 0.75 / 10

Recommendations

  • IsDB should make its project database available and disclose all activities in a timely manner. 
  • IsDB should become an IATI publisher and disclose all investments to the IATI Standard. 
  • It should create an access to information policy according to industry best practices and adhering to the attributes outlined in Publish What You Fund’s DFI Transparency Tool. 
  • IsDB should disclose organisation-level information for Impact Management, including its impact management approach, sector/country strategies, and evaluations. 
  • It should create an independent accountability mechanism (IAM) and have a policy guiding disclosure of its presence to communities. 
  • It should develop an early disclosure policy covering, at a minimum, high risk projects and disclose investments in line with the policy. 
  • IsDB should adopt a free, prior, and informed consent (FPIC) policy. 
Core Information 0.75 / 30
Impact Management 0 / 30
ESG & Accountability to Communities 5.5 / 30
Financial Information 0.75 / 10

Deep Dive

Core Information

0.75 / 30
9 / 9
About component

The basic information that describes a DFI’s organisational policies and investments. This type of information is typically found in key organisation documents and represents the first tier of project information, typically disclosed on project web pages or in files available for bulk download. At the organisation level this includes access to information policies and annual reports. At the project level, this includes project titles, locations, and key dates.

Disclosure / access to information policy

Score: 0 out of 3

Accessibility

Score: 0 out of 2

Annual reports

Score: 0.75 out of 1

Project identification

Score: 0 out of 1.5

Status

Score: 0 out of 1.5

Project description

Score: 0 out of 1.5

Location

Score: 0 out of 1.5

Sovereign / non-sovereign

Score: 0 out of 1.5

Sector

Score: 0 out of 1.5

Investment instrument

Score: 0 out of 1.5

Project costs

Score: 0 out of 1.5

Funding source

Score: 0 out of 1.5

Client

Score: 0 out of 1.5

Contacts

Score: 0 out of 1.5

E&S risk category

Score: 0 out of 1.5

Progress dates

Score: 0 out of 1.5

Contract (sovereign only)

Score: 0 out of 4.5

Impact Management

0 / 30
9 / 9
About component

The ways in which a DFI predicts, measures, and evaluates the impacts of their investments. At the organisation level, this includes an impact measurement approach. At the project level, this includes activity indicators/metrics and results.

Impact measurement approach

Score: 0 out of 6

Sector / country strategy

Score: 0 out of 4

Evaluations

Score: 0 out of 4

Activity indicators / metrics

Score: 0 out of 8

Results

Score: 0 out of 8

ESG & Accountability to Communities

5.5 / 30
8 / 9
About component

The ways in which a DFI predicts, mitigates, and communicates the ESG aspects of their activities. At the organisation level this includes E&S global disclosure policy and E&S community disclosure policy. At the project level this includes E&S plans and assessments, and assurance of community disclosure.

E&S global disclosure policy

Score: 2.5 out of 5

E&S community disclosure policy

Score: 1 out of 4

IAM global disclosure documentation

Score: 0 out of 2

IAM community disclosure policy

Score: 0 out of 2

PGM community disclosure policy

Score: 2 out of 2

Summary of E&S risks

Score: 0 out of 2

E&S project plans / assessments

Score: 0 out of 4

Assurance of E&S community disclosure

Score: 0 out of 3

IAM global disclosure

Score: 0 out of 1

Assurance of IAM community disclosure

Score: 0 out of 2.5

Assurance of PGM community disclosure

Score: 0 out of 2.5

Financial Information

0.75 / 10
8 / 9
About component

This information provides details on the financial performance of DFIs and the structuring of investments. At the organisation level, this includes audited financial reports. At the project level, this includes currency of investment, mobilisation, and concessionality

Financial reports / statements

Score: 0.75 out of 1

Currency of investment

Score: 0 out of 2

Co-financing

Score: 0 out of 4

Instrument-specific disclosure

Score: 0 out of 3