Likely beginning by June 2009, Islamic banks will be authorized to open in France. Experts expect three banks will be shari’ah compliant – the Qatar Islamic Bank already established in London, the Kuwait Finance House, and the Al-Baraka Islamic Bank from Bahreïn. According to a study undertaken in May 2008, 500,000 Muslims in France are…
The Islamic finance industry size is 300 billion USD and expanding at 15 percent a year. It prohibits interest, which is also prohibited in Bible. Islamic financial institutions have been largely sheltered from present crisis, which has resulted in $400 billion losses. USA, France, Germany & India have good potential. The Islamic financial system is…
With the Sharia-compliant market growing by up to 15 per cent a year and estimated to be worth a trillion dollars (Dh3.67tn) by 2010, the number of Islamic investment banks in the UK is predicted to double within five years, said Samer Merhi, the executive director of the Gatehouse Bank, an Islamic finance house based…
The religion-based system’s attitude to risk stands it in good stead compared to Western banks. Islamic finance is set to be a big winner in the current financial crisis, BDO Stoy Hayward said today. The financial advisor claimed that the religion-based system retains large amounts of money available to borrowers. This is in contrast to…
With the Sharia-compliant market growing by up to 15 per cent a year and estimated to be worth a trillion dollars (Dh3.67tn) by 2010, the number of Islamic investment banks in the UK is predicted to double within five years, said Samer Merhi, the executive director of the Gatehouse Bank, an Islamic finance house based…
