Germany’s Muslims are finally getting a bank offering financial products that comply with Shari’a law. It is a market worth billions, and one that many major banks around the world have long discovered. There are four million Muslims living in Germany. They eat, drink and pray in accordance with the precepts of the Prophet Muhammad….
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…
Regulatory approval has been granted for the first ever specialist Islamic insurance provider in the UK, it has been announced. Principle Insurance has been cleared for business by the Financial Services Authority and will offer home insurance and motor insurance products. In keeping with Shariah law, the firm will not use interest and will shun…
