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An B C Con D E F G H I J K L M N O P Q R S Sp T U VWXYZ
IC-DISC
Interest Charge domestic International Sales Corporation
Ice Clause
An ice clause is a standard clause in the chartering of ocean vessels. It dictates the
course a vessel master may take if the ship is prevented from entering the loading or
discharge port because of ice, or if the vessel is threatened by ice while in the port.
The clause establishes rights and obligations of both vessel owner and charterer if these
events occur.
ICPO - Irrevocable Corporate
Purchase Order
IFB - Invitation For Bid
I.M.F.
See International Monetary Fund)
Import Certificate
The import certificate is a means by which the government of the country of ultimate
destination exercises legal control over the internal channeling of the commodities
covered by the import certificate.
Import License.
A document required and issued by some national governments authorizing the importation of
goods into their individual
countries.
Import Quota
A means of restricting imports by the issuance of licenses to importers, assigning each a
quota, after determination of the total amount of any commodity which is to be imported
during a period. Import licenses may also specify the country from which the importer must
purchase the goods.
Import Quota Auctioning
The process of auctioning the right to import specified quantities of quota-restricted
goods.
Import Restrictions
Import restriction, applied by a country with an adverse trade balance (or for other
reasons), reflect a desire to control the volume of goods coming into the country from
other countries may include the imposition of tariffs or import quotas, restrictions on
the amount of foreign currency available to cover imports, a requirement for import
deposits, the imposition of import surcharges, or the prohibition of various categories of
imports.
Import Substitution
A strategy which emphasizes the replacement of imports with domestically produced goods,
rather than the production of goods for export, to encourage the development of domestic
industry.
Importer
The U.S. Customs Service defines "importer" as a person primarily liable for the
payment of duties on the merchandise, or an authorized agent acting on the importer's
behalf. The importer may be: (a) a consignee, (b) the importer of record, or (c) the
actual owner of hte merchandise if the actual owner has filed with Customs a declaration
acknowledging ownership along with a superseding bond.
Importer of Record
The U.S. Customs Service defines the importer of record as the owner or purchaser of the
goods; or, when designated by the owner, purchaser, or consignee, a licensed Customs
broker.
Imports
Imports of merchandise include commodities of foreign origin as well as goods of domestic
origin returned to the United States with no change in condition or after having been
processed and/or assembled in other countries. For statistical purposes, imports are
classified by type of transaction:
- Merchandise entered for immediate consuumption. ("duty free" merchandise and
merchandise on which duty is paid on arrival);
- Merchandise withdrawn for consumption ffrom Customs bonded warehouses, and U.S. Foreign
Trade Zones;
- Merchandise entered into Customs bondedd warehouses and U.S. Foreign Trade Zones from
foreign countries.
Imports for Consumption
"Imports for Consumption" measure the total of merchandise that has physically
cleared through U.S. Customs either entering consumption channels immediately or entering
after withdrawal for consumption from bonded warehouses under Customs custody or from
Foreign Trade Zones. Many countries use the term "special imports" to designate
statistics compiled on this basis.
In Bond.
A term applied to the status of merchandise admitted provisionally to a country without
payment of duties -- either for storage in a bonded warehouse or for trans-shipment to
another point, where duties will eventually be imposed.
In-Bond System
The In-Bond System, a part of Customs' Automated Commercial System, controls merchandise
from the point of unloading at the port of entry or exportation. The system works with the
input of departures (from the port of unlading), arrivals, and closures (accountability of
arrivals).
Incorporation. This is the act
of forming a company and giving it a separate legal existence, and is usually associated
with gaining limited liability.
Incoterms
Maintained by the International Chamber of Commerce (ICC), this codification of terms is
used in foreign trade contracts to define which parties incur the costs and at what
specific point the costs are incurred.
Independent European Program Group
The IEPG is an intergovernmental organization that is not formally part of NATO but whose
membership includes all the EC members of the alliance, plus Norway and Turkey.
Established in 1976, IEPG's objectives are to promote European cooperation in research,
development, and production of defense equipment; improve transatlantic armaments
cooperation; and maintain a healthy European defense industrial base.
Indexed Currency Option Note
An ICON is a debt repayment instrument whose value is partially determined by the exchange
rate between two currencies. Interest payments, made in one currency, are lowered if the
rate of exchange exceeds a pre-arranged rate.
Individually Validated Export
License.
A required document issued by the U.S. Government authorizing the export of specific
commodities. This license is for a
specific transaction or time period in which the exporting is to take place. Compare
General export license.
Individual Validated License
An IVL is written approval by which the U.S. Department of Commerce grants permission,
which is valid for 2 years, for the export of a specified quantity of products or
technical data to a single recipient. IVLs also are required, under certain circumstances,
as authorization for the reexport of U.S.-origin commodities to new destinations abroad.
Industrialization Fund for Developing Countries
The IFU invests in joint venture companies in the developing countries, together with
Danish companies. It is a revolving Fund whose resourcs were made available by the Danish
government. IFU takes part in joint ventures as a shareholder and can provide loans or
guarantees for loans. The Fund was established by Denmark in 1967; headquarters are in Copenhagen.
Since 1978, Fund operations have been funded solely from the return on investments in
developing countries and from other financial assets, with no public financial subsidy.
Industry Consultations Program
The Industry Consultations Program for Trade Policy Matters is an advisory committee
structure created by the Trade Act of 1974; expanded by the Trade Agreements Act of 1979;
and amended by the Omnibus Trade and Competitiveness Act of 1988. The program is operated
jointly by Commerce and the U.S. Trade Representative. Members of the committees are
appointed by the Secretary of Commerce and the U.S. Trade Representative. The present
structure consists of 17 Industry Sector Advisory Committees (ISACs), 3 Industry
Functional Advisory Committees (IFACs), a Committee of Chairs, and an Industry Policy
Advisory Committee (IPAC). The focus of the 3 Functional Advisory Committees are: (1)
Customs Matters, (2) Standards, and (3) Intellectual Property Rights.
Information Highway.
A network, consisting of many connected networks, which has the capacity to carry
high-speed, broadband services, including interactive and voice, data, image and video
communication. The network will allow customers to reach offices, homes, schools,
hospitals and a variety of other institutions.
Infotainment.
The integration of information, education and entertainment services.
Infrequent Exporter
The Commerce Department's International Trade Administration defines an "infrequent
exporter" as a company that has some export experience -- usually averaging between 1
and 50 export shipments per year -- but which still needs assistance to increase the size
of its export market or to expand into new ones.
Inherent Vice.
An insurance term referring to any
defect or other characteristics of a product which could result in damage to the product
without external cause. Insurance policies may specifically exclude losses caused by
inherent vice.
Initial Negotiating Right
A right held by one GATT country to seek compensation for an impairment of a given bound
tariff rate by another GATT country. INRs stem from past negotiating concessions and allow
the INR holder to seek compensation for an impairment of tariff concessions regardless of
its status as a supplier of the product in question.
Injury
In U.S. law, a finding by the International Trade Commission that imports are causing, or
are likely to cause, harm to a U.S. industry. An injury determination is the basis for a
Section 201 case. It is also a requirement in all antidumping and most countervailing duty
cases, in conjunction with Commerce Department determinations on dumping and
subsidization.
Inland Bill of Lading.
A bill of lading used in transporting goods overland to the exporter's international
carrier. Although a through bill of lading can sometimes be used, it is usually necessary
to prepare both an inland bill of lading and an ocean bill of lading for export shipments.
Compare Air waybill, Ocean bill of lading, and Through bill of lading.
Inspection Certification
Some purchasers and countries may require a certificate of inspection attesting to the
specifications of the goods shipped, usually performed by a third party. Inspection
certificates are often obtained from independent testing organizations.
Instruments of International Traffic
Lift vans, cargo vans, shipping tanks, skids, pallets, caul boards, and cores for textile
fabrics, arriving (whether loaded or empty) in use or to be used in the shipment of
merchandise in international traffic are designated as "instruments of international
traffic" (IIT) within the meaning of section 322(a0, Tariff Act of 1930, as amended.
Upon Customs acceptance of a type 3 bond, covering these IIT types, such instruments may
be released without entry or the payment of duty, subject to the provisions of 19 CFR
10.41a.
Insurance Certificate
This certificate is used to assure the consignee that insurance is provided to cover loss
of or damage to the cargo while in transit.
Integrated Carriers
Carriers that have both air and ground fleets; or other combinations, such as sea, rail,
and truck. Since they usually handle thousands of small parcels an hour, they are less
expensive and offer more diverse services than regular carriers.
Integrated Services Digital Network
(ISDN).
Offers integrated voice, data, image and video services over the digital telephone network
at high speeds allowing users to process a wide range of applications using a single
telephone line. ISDN is based on a series of internationally accepted telecommunications
standards.
Integrated Tariff of the European Community
TARIC is a publication which presents the regulations pertaining to import of products
into the EC as well as for some exports. TARIC adopts the provisions of Community
legislation, the harmonized system, and the combined nomenclature (CN).
Intellectual Property Rights (IPR)
IPR is a generic phrase
encompassing intangible property rights, including, among others, patents, trade and
service marks, copyrights, industrial designs, rights in semiconductor chip layout
designs, and rights in trade secrets.
Intelsat
See: International Telecommunications Satellite Organization.
Interagency Group on Countertrade
The IGC, established in December 1988 under Executive Order 12661, reviews policy and
negotiates agreements with other countries on countertrade and offsets. The IGC operates
at the Assistant Secretary level, with the Department of Commerce as chair. Membership
includes 11 other agencies: Agriculture, Defense, Energy, Justice, Labor, State, Treasury,
the Agency for International Development, the Federal Emergency Management Agency, the
U.S. Trade Representative, and the Office of Management and Budget.
Inter-American Commercial Arbitration Commission
The IACAC administers a system for arbitrating and conciliating international commercial
disputes throughout the Western Hemisphere. The Commission, associated with the
Organization of American States, follows provisions of the United Nations Commission on
International Trade Law. IACAC was originally established in 1934; headquarters are in
Washington, D.C.
Inter-American Development Bank
IADB, or IDB, (Spanish: Banco Interamericano de Desarrollo, BID), is a regional financial
institution which helps accelerate economic and social development in Latin America and
the Caribbean. The Bank was established in 1959 (began operations in October 1960);
headquarters are in Washington, D.C. The twenty-eight regional members include: Argentina,
Bahamas, Barbados, Belize, Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Dominican
Republic, Ecuador, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico,
Nicaragua, Panama, Paraguay, Peru, Suriname, Trinidad and Tobago, United States, Uruguay,
and Venezuela. The IDB also includes 16 non-regional members: Austria, Belgium, Denmark,
Finland, France, Germany, Israel, Italy, Japan, the Netherlands, Norway, Portugal, Spain,
Sweden, Switzerland, and the United Kingdom.
Inter-American Investment Corporation
The IIC is a multilateral investment corporation that promotes the economic development of
the regional member countries by stimulating the establishment, expansion, and
modernization of private enterprises, especially those of medium and small scale, in Latin
America and the Caribbean. The IIC works directly with private enterprises in these
countries and neither seeks nor requires government guarantees. The Corporation makes
direct investments such as equity participation, loans and purhcases of debt instruments,
as well as direct investment through other financial institutions. The Corporation also
finances feasibility studies, underwrites securities, provides technical and managerial
assistance, and helps entrepreneurs in mobilizing additional capital. The IIC is
affiliated with the Inter-American Development Bank; it was established in 1986;
headquarters are in Washington, D.C.
Inter-Arab Investment Guarantee Corporation
The IAIGC promotes Arab development by stimulating capital transfers among members, by
providing investment risk coverage, and by supporting development studies. The Corporation
was established in 1965; headquarters are in Kuwait; nearly all Arab countries are
members.
Interbank Offered Rate
IBOR is the rate of interest at which banks lend to other prime banks. Terms are
established for the length of loan and individual foreign currencies. A number of
financial centers offer an IBOR, including: Abu Dhabi (ADIBOR), Bahrain (BIBOR), Brussels
(BRIBOR), Hong Kong (HKIBOR), London (LIBOR), Luxembourg (LUXIBOR), Madrid (MIBOR), Paris
(PIBOR), Saudi Arabia (SAIBOR), Singapore (SIBOR), and Zurich (ZIBOR).
Intermediate Consignee
An intermediate consignee is the bank, forwarding agent, or other intermediary (if any)
that acts in a foreign country as an agent for the exporter, the purchaser, or the
ultimate consignee, for the purpose of effecting delivery of the export to the ultimate
consignee.
Intermodal Container Transfer Facility
ICTF is a site where cargo is transferred from one form of transit to another, such as
rail to ship.
International Accounting Unit
NATO infrastructure projects are usually denominated in International Accounting Units.
The IAU is a unit of measure based on the exchange rates of the 16 NATO member countries
and is reevaluated every six months.
International Agreements
An international agreement is governed by international law; the term refers to a broad
classification of legally binding arrangements between states. The arrangements include:
treaties, conventions, protocols, annexes, accords, and memoranda of understanding. Other
common titles include notes, pact, declaration, statute, constitution and process-verbal.
The title is not a controlling
factor in making distinctions among arrangements. Some titles are not used consistently;
and titles are often used as synonyms, with subtlety in differentiation and resulting in
an inability to apply certitude in definition. In this context, the following general
characteristics apply:
- Treaties are international
agreements and are equivalent to conventions. The Vienna Convention on the Law on Treaties
defines a treaty as "an international agreement concluded between States in written
form and governed by international law, whether embodied in a single instrument or in two
or more related instruments and whatever its particular designation." In its
restricted sense in the United States, a treaty denotes an international agreement made by
the President with the advice and consent of the Senate in accordance with Article II,
section 2 of the Constitution. During a year, the U.S. may be a signatory to approximately
400 international agreements; only about a dozen are treaties. Under U.S. law a treaty (or
other international agreement, however designated) becomes the law of the land and is
binding on federal, state and local government. This is not always the case in other
nations which may require legislative action before a treaty takes the same effect as
domestic law. The term "plurilateral" is sometimes used to differentiate between
a treaty embracing a restricted number of states in contrast with "multilateral"
as a reference to a treaty which is open to all nations.
- Conventions are essentially the
same as treaties. In the 1980s and beyond, the term convention has been used more in
connection with multilateral, than bilateral, arrangements. Depending on the nature of the
convention, the President may or may not consult the Senate.
- Protocols may be any sort of
international agreement. A protocol can stand alone or, more generally, it may be a
supplementary agreement, or an amendment, of some sort.
- Annexes are subsidiary
agreements which are additional to a previously established arrangement. However, there is
flexibility; the General Agreement on Tariffs and Trade (GATT) uses the term
"annex" to indicate a free-standing agreement.
- Accords are further from
treaties than conventions. If there is any distinction to be made, an accord may suggest a
non-binding agreement; there are exceptions.
- Memoranda of Understanding are
very detailed documents devised by Executive Branch agencies (such as aviation or major
fishery agreements). An MOU may be less significant; it takes into account U.S. practice
and the requirements of the other government. When a treaty or an executive agreement is
first published by the United States, it is assigned a TIAS number and published in slip
form in the Treaties and other International Acts Series. TIAS, published by the
Department of State, is a series of individual pamphlets.
International Bank for Reconstruction and
Development
The International Bank for Reconstruction and Development, a part of the World Bank, was
established in December 1945 to help countries reconstruct their economies after World War
II. IBRD assists developing member countries by lending to government agencies and by
guaranteeing private loans for such projects as agricultural modernization or
infrastructural development. Bank headquarters are in Washington, D.C.
International Banking Act
The IBA, passed in 1978, established a federal legislative framework for governing the
activities of foreign banks, which previously had been governed only by state laws. The
IBA established a policy of national treatment for U.S. offices of foreign banks by:
(a) limiting any new multistate
branching activities to activities more comparable to those of U.S. banks;
(b) placing the foreign bank
offices under the same reserve requirements that apply to U.S. banks;
(c) limiting foreign bank
involvement in U.S. securities; and
(d) making federal deposit
insurance available to U.S. offices of foreign banks if they chose to engage in retail
banking.
International Banking Facility
An IBF is one of four categories of foreign banking in the United States. An IBF may be a
domestic bank or an office of a foreign bank. In either circumstance, the IBF maintains
asset and liability accounts that are segregated from domestic activity and limited to
financing international trade. IBFs are exempted from such requirements as: reserve levels
and obligations to make some insurance premiums. In the U.S., eligibility requirements
limit IBFs to business with other IBFs and with non-U.S. residents. U.S. banks may
structure operations to draw foreign customer deposits and loans to their domestic
offices.
International Business Opportunities Service
IBOS is a World Bank subscription package which includes information on upcoming projects
and business opportunities. The Service includes:
(a) the Monthly Operational
Summary (MOS) listing all projects in the pipeline;
(b) Technical Data Sheets (TDS),
published for each approved loan, listing identifying information, procurement methods,
cofinancing and similar data;
(c) general procurement notices,
issued for projects involving international competitive bidding;
(d) specific procurement notices
describing specific items to be procured and bidding requirements; and
(e) major contract award notices
identifying successful bidders for contracts which were recently awarded.
International Centre for Settlement of Investment
Disputes
ICSID, an affiliate of the World Bank, is a public international organization which
provides facilities for the conciliation and arbitration of investment disputes between
Contracting States and nationals of other Contracting States. The Centre's objective is to
promote an atmosphere of mutual confidence between States and foreign investors conducive
to increasing the flow of private international investment. The Centre does not itself
engage in conciliation or arbitration but assists in the initiation and conduct of
conciliation and arbitration proceedings. Recourse to conciliation and arbitration under
the ICSID Convention is entirely voluntary. However, once the parties have consented, they
are bound to carry out their undertakings and, the case of arbitration, to abide by the
award. All Contracting States, whether or not parties to the dispute, are required to
recognize awards rendered pursuant to the Convention as binding and to enforce the
pecuniary obligations imposed thereby. The Centre also conducts and publishes research in
foreign investment law. ICSID was created under a treaty, the Convenion on the Settlement
of Investment Disputes Between States and Nationals of Other States (the ICSID Convention)
which entered into force in October 1966. The Centre's headquarters are in Washington,
D.C.
International Chamber of Commerce
ICC was created in 1919 to promote free trade, private enterprise, and represent business
interests at national and international levels. Members include national councils from
sixty countries. ICC headquarters are in Paris, France.
International Commodity Agreement
An ICA is an international understanding, usually reflected in a legal instrument,
relating to trade in a particular basic commodity, and based on terms negotiated and
accepted by most of the countries that export and import commercially significant
quantities of the commodity. Some commodity agreements (such as exists for coffee, cocoa,
natural rubber, sugar, and tin) center on economic provisions intended to defend a price
range for the commodity through the use of buffer stocks or export quotas or both. Other
commodity agreements (such as existing agreements for jute and jute products, olive oil,
and wheat) promote cooperation among producers and consumers through improved
consultation, exchange of information, research and development, and export promotion.
International Competitive Bidding
ICB is one of several forms of procurement made with World Bank financing. While the World
Bank provides financing from its loans for the contracts and ensures that agreed
procurement procedures are observed, the borrower, not the World Bank, is always
responsible for procurement. ICB requires that:
(a) all goods or works to be
procured through ICB be internationally advertised through the United Nations (in the
publication: Development Business) and at least one major local newspaper;
(b) bids be entertained in the
bidder's or other currencies in which expenses would normally be occurred on in an
international currency specified by the borrower;
(c) payments be made in the
currencies in the bids, without requirement to accept any portion of payment in
countertrade;
(d) documents be in an
international language (English, French, or Spanish);
(e) bids be openly reviewed; and
(f) contracts be awarded to the
lowest evaluated responsive bid. ICB permits a margin of preference to be given to
domestic goods and, under certain conditions, to domestic contracting services in
developing countries.
International Confederation of Free Trade Unions
ICFTU was established in 1949 to promote the trade union movement by recognizing workers'
organizations and through other means of support for the rights of workers to bargain.
Members include more than 140 national organizations from nearly 100 countries. ICFTU
organizes and educates free trade unions in the developing world primarly through its
three regional organizations: APRO for Asia and the Pacific located in New Delhi, India;
AFRO in Afria, and ORIT in Latin America, located in Mexico City. ICFTU headquarters are
in Brussels, Belgium.
International Court of Justice
The ICJ, established in 1945, is the principal judicial organ of the UN. The ICJ decides
cases submitted to it by states and gives advisory opinions on legal questions submitted
to it by the General Assembly or Security Council or by UN specialized agencies. The court
is composed of 15 judges elected by the General Assembly and the Security Council from a
list of persons nominated by the national groups in the Permanent Court of Arbitration.
The seat of the Court is in The Hague, Netherlands.
International Data Base
The IDB, which is maintained by the Center for International Research, is an automated
data bank containing statistical tables of demographic, economic, and social data for all
countries of the world. Data categories include: population; vital statistics; health and
nutrition; fertility, migration; foreign-born and refugee statistics; provinces and
cities; marital status; family planning; ethnic, religious and language groups; literacy
and education; labor force, employment, income and gross national product; and household
size and housing indicators. IDB data users include the U.S. government, private firms,
research institutions, and international organizations.
International Depository Receipt
An IDR is a negotiable bank-issued certificate representing ownership of stock securities
by an investor outside the country of origin. The securities backing the receipt remain in
the custody of the issuing bank or a correspondent.
International Electrotechnical
Commission (IEC).
This is a non-governmental federation of national committees from around 50 countries,
representing all the industrial countries in the world. It was established in 1906 to
"promote international cooperation on all questions of standardization and related
matters in the fields of electrical and electronic engineering and thus to promote
international understanding."
International Finance Corporation
The IFC was established in 1956 as a member of the World Bank Group. The IFC promotes
private sector investment in developing countries. The IFC charges market rates and seeks
profitable returns.
International Freight Forwarder.
See Freight Forwarder.
International Monetary Fund (IMF)
International Monetary Fund The
IMF, established in December 1945, promotes international monetary harmony, monitors the
exchange rate and monetary policies of member nations, and provides credit for member
countries which experience temporary balance of payments deficits. Each member has a
quota, expressed in Special Drawing Rights, which reflects both the relative size of the
member's economy and that member's voting power in the Fund. Quotas also determine
members' access to the financial resources of, and their shares in the allocation of
Special Drawing Rights by, the Fund. The IMF, funded through members' quotas, may
supplement resources through borrowing. IMF membership is approximately 175 countries.
International Organization for
Standardization (ISO).
This is a non-governmental, world-wide federation of national standards bodies from some
100 countries, one per country, which was established in 1947 to "promote the
development of standardization and related activities in the world with a view to
facilitating the international exchange of goods and services, and to developing
cooperation in the spheres of intelectual, scientific, technological and economic
activity."
ISO's work results in
international agreements which are published as International Standards.
International Telecommunications Satellite
Organization
INTELSAT, created in 1964 under a
multilateral agreement, is a nonprofit cooperative of about 120 countries that jointly own
and operate a global communications satellite system serving the world. The system is used
primarily for international communications, and by many countries for domestic
communications. In 1991, the INTELSAT system comprised a network of 16 satellites in
geosynchronous orbit over the Atlantic, Indian, and Pacific Ocean regions, with service to
about 1,500 international and domestic earth station antennas. COMSAT is the United
Statess representative to and participant in Intelsat.
International Telecommunications Union
(ITU).
The International Telecommunications Union is an organization established to promote
worldwide standards and the development of interworking telecommunications networks
throughout the world.
International Trade Commission
An independent U.S. Government agency concerned with imports, import duties, and the
effect of imports on U.S. industry. The Commission has six commissioners who review and
make recommendations concerning countervailing duty and antidumping petitions submitted by
U.S. industries seeking relief from imports that benefit unfair trade practices. Known as
the U.S. Tariff Commission before its mandate was broadened by the Trade Act of 1974.
Invisibles
This refers to areas of non-merchandise "invisible trade" that include expenses
such as freight and insurance and most types of services and investment.
Invitation For Bids
A request, verbal or written, which is made to prospective bidders requesting the
submission of a bid on specifically described commodities or services.
I.P.R.
See Intellectual Property Rights.
Irrevocable Letter of Credit.
A letter of credit in which the specified payment is guaranteed by the bank if all terms
and conditions are met by the drawee.
Islamic Development Bank
The IsDB (sometimes IDB) finances economic aid and social development in member countries.
The Bank also supports Muslim communities in non-member countries. Membership is open to
all countries which are members of the Islamic Conference. Members include: Afghanistan,
Algeria, Bahrain, Bangladesh, Benin, Brunei, Burkina, the Cameroon, Chad, Comoros,
Djibouti, Egypt, Gabon, The Gambia, Guinea, Guinea-Bissau, Indonesia, Iran, Iraq, Jordan
Kuwait, Lebanon, Libya, Malaysia, Maldives, Mali, Mauritania, Morocco, Niger, Oman,
Pakistan, the Palestine Liberation Organization, Qatar, Saudi Arabia, Senegal, Sierra
Leone, Somalia, Sudan, Syria, Tunisia, Turkey, Uganda, the United Arab Emirates, and
Yemen. The Bank was created in 1973 (began operations in October 1975); headquarters are
in Jeddah, Saudi Arabia.
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