Saudi Crown Prince Mohammad Bin Salman is expected to open the conference, which will be held under the theme "Allied Against Terrorism", in the presence of ministers of defense from the coalition member countries and delegates from diplomatic missions and global organizations in Saudi Arabia.
Crown Prince and Minister of Defense of Saudi Arabia Mohammed bin Salman Al Saud will open the meeting.
The coalition's new website said its main objective "is to increase co-operation between Islamic countries on the combating the financing of terrorism and to counter radical Islamic ideology". It includes countries as Turkey, Pakistan, Malaysia and Egypt.
The newspaper noted with concern the Saudi crown prince's statement issued Friday in which he dubbed Iran's supreme leader "the Hitler of the Middle East".
Also not attending were any officials from Qatar.
Qatar's flag was also absent. Saudi Arabia and three other Arab nations cut ties to Doha in June.
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"The meeting [in the Saudi capital] marks the official launch of the IMCTC and strengthens the cooperation and integration of member countries in the coalition", it reads.
While IS has not claimed responsibility, Egyptian authorities say the organisation is the main suspect as the mosque is associated with followers of the mystical Sufi branch of Sunni Islam, whom IS has branded heretics.
The general retired in November 2016 and is credited with effectively countering terrorist groups operating in Pakistan during his three-year tenure as the chief of the powerful military.
He vowed to stop terrorist groups from distorting the true image of Islam and its values.
The IMCTC was announced in December 2015 by the Saudi crown prince to form a unified Pan-Islamic front against terrorism.
A corruption purge saw around 200 Saudi elites including princes, ministers and business tycoons arrested or sacked earlier this month.