Continuation
SUMMARY
As
regards the European Union (EU), Islamic finance is still at a fairly embryonic
stage.
But
a number of factors would tend to support its further development.
These
factors are:
§ government
o
incentives
o
and the measures
introduced to create
an environment conducive to a growing and thriving Islamic finance industry;
§ the
increased emphasis on alternative financial solutions following the financial
crisis;
§ the
substantial appetite for attracting liquidity from emerging markets.
From the research
paper of European Central Bank
(Authors:
F.Mauro, P.Caristi, S.Couderc, A.D.Maria,
L.Ho, B.K.Grewal, S.Masciantonio, S. Ongena and S.Zaher)
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