This entry examines the role, evolution, and criticisms of the World Bank in the international financial system since its establishment. The bank was established as part of the Bretton Woods system and constituted an important financial resource for the reconstruction of Europe in the aftermath of the Second World War. Over time, however, the bank has assumed a more expansive mission of reducing global poverty and promoting economic growth, with a particular focus on the development of developing countries. Developed countries, particularly the United States, exert considerable influence over the decision-making processes of the World Bank. As a result of the voting system being based on countries’ capital contributions, the United States and other major economies are able to exert a greater influence over the shaping of the institution’s policies. This has resulted in criticism that the World Bank at times serves the economic and political objectives of the major powers rather than the genuine needs of developing Islamic countries. The World Bank’s activities extend beyond the provision of financial assistance to encompass advisory services on economic policy and capacity building. The World Bank is a complex institution that plays a significant role in the international development process.