Buddhism is a Dharmic religion and philosophy with between 230 to 500 million adherents worldwide. The vast majority live in Asia. It consists of two major schools: Mahayana and Theravada. Buddhism is based on the teachings of the Gautama Buddha, who lived in parts of what is now Nepal and northeast India circa the fifth century BCE.
The Buddhist flag is designed to symbolise Buddhism. It was designed in 1880 by the Colombo Committee, in Colombo, Sri Lanka. It was first hoisted in 1885 in Sri Lanka and is a symbol of faith and peace.