Founded in 2002 with the collective efforts of the Central Bank of Bahrain, Bank Indonesia, Central Bank of Sudan, Labuan Financial Services Authority (Malaysia), Ministry of Finance (Brunei Darussalam), and Islamic Development Bank (a multilateral institution based in Saudi Arabia), the International Islamic Financial Market (IIFM) focuses on standardizing Islamic products, documents, and related processes. In addition to its founding members, the IIFM's membership includes several regional and international financial institutions and other market participants.

For more information on Islamic finance in the US, see Practice Notes:

For more information on Islamic finance in the UK, see Practice notes: