Islamic Financial Institutions

Islamic Financial Institutions: International and National

Islamic Financial Institutions: International and National 1. Islamic Development Bank (IDB) a. Establishment The idea of establishing an international financial institution for Muslim counties was discussed in the late 1960s by the Organization of Islamic Conference (QIC) Working papers were circulated and proposals made, but no concerted action was taken until the first […]

Read more
Islamic Development Bank (IDB)

Islamic Development Bank (IDB)

Islamic Development Bank (IDB) IDB Establishment: Islamic Development Bank (IDB): The idea of establishing an international financial institution for Muslim counties was discussed in the late 1960s by the Organization of Islamic Conference (QIC) Working papers were circulated and proposals made, but no concerted action was taken until the first […]

Read more
International Islamic Financial Market (IIFM)

International Islamic Financial Market (IIFM)

International Islamic Financial Market(IIFM) International Islamic Financial Market (IIFM): Established in 2001 in Manama, Bahrain to develop and regulate an International Financial market bašed on Shari’ah Rules and Principles. IIFM which is based in Manama and hosted by the Central Bank of Bahrain (CBB), was established in 2002 under the […]

Read more

International Association of Islamic Banks (IAIB)

International Association of Islamic Banks (IAIB) International Association of Islamic Banks (IAIB)  The International Association of Islamic Banks (IAIB), was established as a technical advisory institution for Islamic banks which began to grow up and spread all over the world as a reflection of the intent of the Muslims at […]

Read more

Accounting and Auditing Organizations for Islamic Financial Institutions (AAOIFI)

Accounting and Auditing Organizations for Islamic Financial Institutions (AAOIFI) The Accounting Standards for Islamic Banks are prepared by the ‘Accounting and Auditing Organization for Islamic Financial Institutions. (AAOIFI), which was established in accordance with the agreements signed by Islamic Financial Institutions on 26 February 1990 in Algiers during the meeting […]

Read more