International Association of Islamic Banks

The International Association of Islamic Banks ( International Association of Islamic Banks ( IAIB ); Arabic الاتحاد الدولي للبنوك الإسلامية, DMG Ittihad al - Dawlī lil- al - Islamiya Bunūk ) was established in 1977 in Jeddah, Saudi Arabia, established to strengthen and promote the cooperation and coordination of existing national Islamic banks. Its head office is located in Cairo in Egypt.

Report this association According to a there should be 176 Islamic banking institutions in the world, of which 47% in South and Southeast Asia, 27% ​​in GCC ( = Gulf Cooperation Council ) and the Middle East, 20% in Africa and 6% located in the western countries.

My long-time Secretary-General of the Egyptian Ahmed El- Naggar (* 1932), had already stated in his Cologne dissertation how one could avoid interest ( riba ) and other prohibitions and simultaneously enter into financial transactions.