Islamic finance in Europe (56)

Continuation

2.2      ISLAMIC CAPITAL MARKETS

Since 1990, the Islamic capital market has developed rapidly across the globe, from South-East Asia:

-      to the GCC region

-      and to Europe

becoming a truly international market for fundraising activities.

This strong growth has been driven by the increase in the earnings of oil exporting countries resulting from a rise in global oil prices.

Participating institutions include multilateral organisations, such as:

-      The World Bank

-      and the Islamic Development Bank (IDB)

as well as both:

-      Islamic

-      and conventional

corporate entities.

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)