Islamic Bank International
From Islamic Finance WIKI
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]
References
- [1] Islamic Bank International of Denmark - Businessweek
- [2] Danes launch Islamic bank
- [3] Dar al-Maal buys Danish Islamic bank. MEED, 7th December 1990, highbeam database
- [4] Engwall et al, Foreign bank penetration in Denmark
- [5] The House of Saud in Commerce - Sharaf Sabri
- Eric Trolle Schultz, CEO, "How the first Islamic Bank was Established in Europe?", in Islamic banking and finance, 1986, Butterworths, ISBN 0406100349, 9780406100344
