Dar al-Maal al-Islami Trust () ("The House of Islamic Money"), founded in Switzerland in 1981, is a leading Islamic financial institution with affiliates on four continents and

assets under management In finance, assets under management (AUM), sometimes called fund under management, refers to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institutio ...

of over US$3.6 billion, operating in accordance with

Zakat Zakat (or Zakāh زكاة) is one of the Five Pillars of Islam. Zakat is the Arabic word for "Giving to Charity" or "Giving to the Needy". Zakat is a form of almsgiving, often collected by the Muslim Ummah. It is considered in Islam a relig ...

principles of

Islamic banking Islamic banking, Islamic finance ( ''masrifiyya 'islamia''), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some ...

Overview

DMI Trust was cofounded by a group of leading figures in 1981, including

Mohammed bin Faisal Al Saud Mohammed bin Faisal Al Saud (, ''Moḥammed bin Fayṣal Āl Saʿūd''; 1937 – 14 January 2017) was a Saudi prince and businessman. He was a son of Faisal of Saudi Arabia, King Faisal and one of the grandsons of Saudi Arabia's founder King Abd ...

Zayed bin Sultan Al Nahyan Sheikh Zayed bin Sultan Al Nahyan (; 6 May 1918 – 2 November 2004) was an Emirati royal, politician, philanthropist and the founder of the United Arab Emirates. Zayed served as the governor of Eastern Region from 1946 until he became ...

Isa bin Salman Al Khalifa Isa bin Salman bin Hamad Al Khalifa (; 3 June 1933 – 6 March 1999) was a Bahraini royal who served as the first Emir of Bahrain from 1961 until his death in 1999 (after having previously ruled as Hakim of Bahrain until 16 August 1971). Bo ...

and

Abdullah bin Faisal Al Saud Abdullah may refer to: * Abdullah (name), a list of people with the given name or surname * Abdullah, Kargı, Turkey, a village * ''Abdullah'' (film), a 1980 Bollywood film directed by Sanjay Khan * '' Abdullah: The Final Witness'', a 2015 Pakis ...

. It 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

Persian Gulf The Persian Gulf, sometimes called the Arabian Gulf, is a Mediterranean seas, mediterranean sea in West Asia. The body of water is an extension of the Arabian Sea and the larger Indian Ocean located between Iran and the Arabian Peninsula.Un ...

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.

Notable personnel

* Prince

– founder and chairman after 1983 *

Omar A. Ali Omar Abdi Ali (, ) is a Somali entrepreneur, accountant, financial consultant, philanthropist, and a leading specialist on Islamic finance. From 1986 to 1999, he was CEO of Dar al-Maal al-Islami Trust (DMI Trust), a Middle Eastern financial an ...

– CEO from 1986 to 1999

References

Douglas Farah Douglas Farah is an American journalist, author and national security consultant. Farah served as United Press International bureau chief in El Salvador from 1985 to 1987, and worked as a freelance journalist for ''The Washington Post'', ''Newswe ...

,
The Little Explored Offshore Empire of the International Muslim Brotherhood
, April 18, 2006. {{Authority control Banks established in 1981 Organizations established in 1981 Organizations disestablished in 2002 Islamic banks Swiss companies established in 1981 Banks of Switzerland