The Brussels International Banking Club (BIBC) was founded in November 1996 in Brussels, when the Partnership and Co-operation Agreement between the European Union and Russia, as well as with other CIS countries, entered into force. The Club is a non-profit international association, and its Status has been approved by the Belgian Royal Decree of July 6, 1997.

One of the main objectives of the Club is to promote co-operation between EU and CIS banks, investment companies and financial institutions. Russian, together with English and French, is one of the working languages of the BIBC.