the crisis of modernisation and islamicisation 341- Organizing scholars exchange programs
- Offering in-house training facilities
- Awarding fellowships for doctoral and post-doctoral studies to
young Muslim economists
Reinforced by professors of Islamic economics of a particularly high
caliber, drawn from both national and international resources, and
with generous financial support from the Dallah-al-Baraka Banking
group and King Abdel-Azìz University, the ICRIE is a major aca-
demic centre for research and education in Islamic economics.
The Islamic Research and Training Institute (IRTI)
Emanating from the Islamic Development Bank, IRTI was estab-
lished in Jeddah, Kingdom of Saudi Arabia, in 1981. One of the
stipulated Articles for the establishment of the Islamic Development
Bank (IDB) states that the IDB is required to, “extending training
facilities for personnel engaged in development activities (in member
countries) and undertaking research for enabling the economic,financial
and banking activities in Muslim countries to conform to Sharì"ah”.
In implementation of this Article, the IDB Board of Governors passed
a resolution in 1979 for the establishment of an institute to under-
take research and provide training for the benefit of member coun-
tries. As a result the Islamic Research and Training Institute was
established in 1981 and became operational in 1983.
The functions of IRTI are as follows (IRTI website):
- To organize and conduct basic and applied research with a view
to developing models and methods for the application of Sharì"ah
in the field of economics, finance and banking, - To provide for the training and development of professional per-
sonnel in Islamic economics to meet the needs of research and
Sharì"ah-observing agencies, - To train personnel engaged in development activities in the Bank’s
(IDB’s) members countries, - To establish an information center to collect, systematize and dis-
seminate information in field related to its activities, and - To undertake any other activities that may advance its purpose.
Similar to ICRIE, the Institute has its own publication activities and
an academic journal, which cover a wide range of research in Islamic