Islamic Bank International

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Islamic Bank International of Denmark was the first European Islamic bank incorporated in 1982.[1] The bank aimed to focus on Danish corporates. It was later acquired by Geneva based Dar al-Maal al-Islami (DMI) through its at the time wholly owned subsidiary Faisal Holdings Luxembourg. The acquisition was finalised on 19.11.1990 at reportedly USD 7.5 million.[3] The bank changed its name to Faisal Bank and was later closed [4]. Its assets were estimated at USD 98 mn at the end of 1992. [5]