OIC members will stand "united in combatting sectarian, confessional, and exclusion policies that have led to sedition in some countries and threatened their security and stability," said a statement issued at the end of a two-day meeting in the Red Sea city of Jeddah.
Sunni Muslim militants, led by the jihadist Islamic State of Iraq and the Levant (ISIL) and including supporters of executed dictator Saddam Hussein, have overrun a large chunk of northern and north-central Iraq in the past week.
Speaking to reporters, Faisal accused Iraqi Prime Minister Nuri al-Maliki of "stirring" up trouble in his own country and said he was behind "the deterioration of the situation in Iraq."
His comments came in response to a question on Baghdad's allegations that Saudi Arabia should be held responsible for militant financing and crimes committed by insurgent groups in Iraq.
"These accusations are ridiculous," said Faisal. "My advice to Maliki is to follow a policy similar to that of Saudi Arabia in fighting terrorism."
Saudi media has been minimising the role of ISIL, designated by the Sunni-dominated kingdom as a "terrorist" organisation, through highlighting the role of Sunni tribes and other armed groups in the insurgency in Iraq.
On neighbouring Syria, the 57-member OIC condemned "terrorism in all its forms" and denounced the international community's "failure' to find a solution to the Syrian conflict.
"The ministers rejected the presidential elections held recently in Syria and their entire results as they contravene the Geneva Communique" about a democratic transition in Syria, it said.
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