DMI Trust

From Wikipedia, the free encyclopedia

Dar al-Maal al-Islami Trust ("The House of Islamic Money" in English), founded in 1981, is a leading Islamic financial institution with affiliates four continents and assets under management of over US$3.6 billion, operating in accordance with Zakat principles of Islamic banking. Its slogan is "Allah is the purveyor of success."

Contents 1 Overview 2 Notable personnel 3 External links 4 References

[edit] Overview

DMI Trust has two main business units, Takafol and Retakafol, for Islamic banking and Islamic insurance/reinsurance respectively; these are based in the Bahamas, Luxembourg, and the United Kingdom. Fund management and financial services in Switzerland and Morocco, investment banking in Bahrain and Pakistan, commercial and retail banking in the Gulf region and other parts of the world. Additionally, DMI Trust operates the Faisal Islamic Bank group of investment companies with affiliates in Bahrain, Egypt, Pakistan, Qatar and the United Arab Emirates.

DMI Trust was also one of the main share holders of Geneva-based Bank Al Taqwa Limited, at the time of its closure in 2002 due to its status of having served as a conduit of funding for al Qaeda and Hamas.

[edit] Notable personnel

• Ibrahim Mustafa Kamel, a was chairman until October 17, 1983; according to Douglas Farah, Kamel was amoung the early financial backers of the Muslim Brotherhood.
• Prince Mohammed al-Faisal al-Saud, chairman after 1983.
• Haydar Mohamed bin Laden, director; half-brother of the more famous Osama bin Laden.

[edit] External links

• Corporate website

[edit] References

• DMI annual report 2003
• Douglas Farah, "The Little Explored Offshore Empire of the International Muslim Brotherhood", April 18, 2006.