Islamic finance in Europe (79)

Continuation

There were six Shari’ah-compliant funds in France in 2013.

Their total assets under management of USD 147.2 million.

They were split relatively evenly between:

-      money market (47%)

-      and equity (53%) assets.

Going forward, Islamic finance appears to have good potential to develop further in France.

Over the years, the country has established favourable trade flows with a number of close neighbours with large Muslim populations, including:

-      Morocco

-      Algeria

-      and Tunisia.

A significant proportion of the French population originates from North Africa, and this has been driving domestic demand for Islamic finance.

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)