FIBE was established under special Law No. 48 of 1977 and its amendments - the last of which is Law No. 97 of 1996 -
the Bank is registered at the Central Bank of Egypt as a commercial bank subject to the provisions of the law of the CBE and the banking system No.
88 of 2003. The Bank is also subject to the supervision of the Central Bank of Egypt and is committed to carry out all its instructions, in addition to submitting the required monthly reports to the general administration for supervising banks.
The Central Bank also regularly inspects the bank's activities and endorses its financial statements. Moreover, all the bank's activities are subject to the supervision of the Religious Supervisory Board which endorses all transactional contracts and revises all practical implementations of such transactions.
Furthermore, the external auditors audit the bank's accounting books and records.
The bank is also a member of the following organisations and associations :
- Federation of Egyptian Banks (FEB).
- Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
- General Council for Islamic Banks and Financial Institutions (CIBAFI)
- Islamic Financial Services Board (IFSB) – Malaysia
- Liquidity Management Center (LMC) – Bahrain
- World Union of Arab Bankers (WUAB) - Beirut, Lebanon
- International Islamic Center for Reconciliation and Arbitration (IICRA) - Dubai, United Arab Emirates