The field of Islamic Banking/Islamic Finance and therewith the approach to place funds on principle Islam- compliant is discussed worldwide regarding the growing interest.
The keenness on this field, which grows out of the proportional double- digit expansion rates does not only cover the segment of corporal and institutional clients, but also the increasing issues in the form Islam- compliant investments (which can be offered in retail banking) and as well as the prerequisites that must be established for a successful market entrance.
While Islamic Banking/Islamic Finance is already established in the Islamic minted hemisphere and even in the Anglo- Saxon area (five Islamic financial institutes are existent there), Islamic Banking/Islamic Finance is newly founded in the European continent.
It is obvious that the 55 million people living in Europe, regardless of their cultural diversity, share together one common religion: Islam. It has become only a matter of time to give The Islamic Banking/Islamic Finance a chance to be realized as a profitable market in the German- speaking world for all the involved parties. Possible initial reservations are resolving in the presence of the potential demands. In this way an adequate Banking and Insurance product portfolio will be soon established.
Unlike the UK, Germany faces more or less legal barriers regardless of the cultural and language barriers.
To encounter the existent information deficits in the area of Islamic Banking/Islamic Finance and also to clear up the possible and perhaps the justified reservations against the introduction of Islam- conformable investment products, IFIBAF came into existence in 2006 in one of the main European finance mega cities, Frankfurt am Main. Within a short period IFIBAF has established itself as the Nr. 1 in the field of Islamic Banking/Islamic Finance within the German- speaking world.
Workshop "Qualified Islamic Finance Consultant" 24th -27th March 2012 in Dubai
ISLAMIC FINANCE GAINING GROUND IN GERMANY