Statute of the Islamic Research and Training Institute
The Board of Executive Directors
In conformity with paragraph (a) of the Resolution No. BG/14 – 99 of the Board of Governors adopted at its Third Annual Meeting held on 10th Rabi-ul-Thani, 1399H corresponding to 14 March, 1979;
Pursuant to paragraph(3) of Article 29 and paragraph (4) of Article 30 of the Articles of Agreement and Section 10 of the By-Laws of the Bank;
In implementation of the aforementioned Resolution of the Board of Governors;
Hereby adopts the following Statute:
The President of the Islamic Development Bank shall be the ex-officio President of the Islamic Research and Training Institute;
The President shall be the Legal Representative of the Institute;
The President may introduce amendments on the rules and regulations of the Islamic Research and Training Institute in line with the nature of the Institute's activities and without prejudice to the powers of the Board of Executive Directors.
The Director General
The Institute shall have a Director-General who shall be appointed by the President in consultation with the Board of Executive Directors;
The Director-General shall hold office for a term of three years renewable with the condition that the maximum period be nine years in total;
The Director-General shall be responsible to the President for the discharge of his powers and duties;
The Director-General shall be the Chief Executive Officer of the Institute and shall, under the direction of the President, be responsible for:
The preparation of the annual program and the short-term and long¬term plans of the Institute, and proposing such regulations and rules as may be necessary or appropriate for the proper conduct of work;
The efficient conduct of the day-to-day activities of the Institute in the light of the Regulations and Rules in force;
Implementing the approved budget and ensuring that disbursements from the budget are made in accordance with the Financial Regulations;
The preparation of the draft annual budget of the Institute and submitting it to the President;
The preparation of an annual report on the activities of the Institute and submitting it to the President.
The Board of Trustees
The Islamic Research and Training Institute shall have a Board of Trustees.
Click here for more details concerning the Board of Trustees of the IRTI.
Finance of the Institute
The activities of the Institute shall be financed out of the income received from the following sources.
The annual budget of the Institute approved by the Board of Executive Directors;
Rents paid for the use of the Conference Hall of the Institute;
Fees and subscriptions paid in return for services offered by the Institute;
Revenues coming from the sale of the publications of the Institute;
Unconditional grants and donations which the President may accept, and conditional grants and donations which the Board of Executive Directors, on the recommendation of the President, may accept.
Audit of the Accounts
The accounts of the Institute shall be audited at least once a year by the External Auditors of the Bank.
Application of Chapter VII of the Articles of Agreement and Regulations and Rules the Bank
Being an agency of the Bank, the property, assets and personnel of the Institute shall be accorded the immunities, exemptions and privileges set forth in Chapter VII of the Articles of Agreement;
Regulations and Rules of the Bank shall apply to the Institute in all matters which are not covered by the Provisions of the Regulations and Rules pertaining to the Institute and adopted by the Board of Executive Directors;