The federation of Islamic Countries Contractors was established in 1991 in the Kingdom of Morocco, with the aim of enabling national contracting companies to implement development projects in member states in general through cooperation, integration and coordination with the Islamic Development Bank. The number of participants in the founding meeting reached 135 contracting companies from 20 Islamic countries. In 2006 AD, the Federation was recognized as an organization operating under the framework of the Organization of Islamic Cooperation, by Resolution No. (ORG-33/6), at the meetings of foreign ministers of Islamic countries held in its 33rd session in the Republic of Azerbaijan. The Federation included approximately 250 members from 23 Islamic countries. Foreign Affairs of Islamic Countries held its 33rd session, Republic of Azerbaijan, June 2006.

Then, several different sessions and meetings were held in a number of Islamic countries on the sidelines of the annual meetings of the Islamic Development Bank Group, including the General Assembly, and the last meeting was the one that was held in the Sudanese capital, Khartoum, in the year 2012. In November of the year 2022 AD, the founding General Assembly of the Federation was held after revival efforts under the generous sponsorship of the Islamic Development Bank. The meeting was facilitated by choosing the Kingdom of Saudi Arabia as the headquarters of the Federation and choosing Engineer Zakaria bin Abdulrahman Al-Abdulqader as President of the Federation.