History & Milestones

The Institute of Islamic Banking and Insurance (IIBI) was conceived in 1990 and formally established in 1994, building on the pioneering work of the International Centre for Islamic Studies (ICIS), founded in London in 1985. IIBI has since grown to become a global leader in Islamic finance education and thought leadership.

“No individual should claim superiority except on the basis of Taqwa (piety).” – Guiding principle of ICIS and IIBI

Timeline of Key Milestones

1985

First public lecture on Islamic banking delivered in the City of London by Professor Rodney Wilson, founder of Durham University’s Islamic Finance Programme.
In addition to holding seminar and conferences on Islamic banking. The ICIS published occasional papers.
ICIS Occasional Papers 1

1991

Launch of NEWHORIZON magazine, reporting global developments in Islamic banking and insurance.

1994

First International Islamic Banking Conference in London: Islamic Banking: A Global Phenomenon.
First UK website dedicated to Islamic finance education.
First IIBI Diploma in Islamic Banking and Insurance awarded.

1995

First English publication: Encyclopaedia in Islamic Banking.

1997–2004

Compendium of Legal Opinions for Banking (Volumes I–III) published.

2000

Anthology of Islamic Banking published in English.

2001

Durham University recognizes the IIBI Diploma as an entry qualification for the M.A. in Islamic Political Economy.

2002–2003

First Executive Development Programme in London.
First International Takaful Summit organized.
Contributed to UK regulations on Islamic mortgages to ensure fair treatment.

2004–2007

Extended lecture series honoring Ibn Rushd and Ibn Khaldun.
First three-day residential workshop on “Innovations in Structuring Islamic Financial Products” at Clare College, University of Cambridge.
Distance learning programme accredited by ODLQC.

2009

Official name change to the Institute of Islamic Banking and Insurance (IIBI).
Launch of IIBI Diploma in Islamic Banking.
Thematic workshops with ISRA, Malaysia, on Shari’ah governance and corporate moral responsibility.

2010–2012

Post Graduate Diploma recognized by Markfield Institute (MIHE) and University of Newman, UK.
Launch of Certificate in Takaful.
International collaborations in Egypt, UAE, and Indonesia to expand education and research initiatives.

2019

NewHorizon, IIBI’s flagship magazine on Islamic banking and finance, concluded publication in 2019, with its final issue covering July–December 2019.

Global Collaborations

Through agreements and collaborations , IIBI remains committed to research, education and thought leadership, supporting a global community of Islamic finance students, professionals and institutions.