Islamic finance in Europe (71)

Continuation

The authors note that:

-      mutual

-      and Islamic

insurance share the principle of risksharing.

Here the risks being spread over members/participants.

All of these are key factors that should help Islamic insurance make headway in the European market.

The growth of Islamic finance in Europe has largely been concentrated in the:

-      Islamic banking

-      and Islamic capital

market segments.

But as these segments grow, Islamic insurance could become a key complementary offering for consumers who are seeking Islamic financial solutions.

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)