Islamic finance in Europe (104)

Continuation

The:

-      interest

-      and involvement

of US-based entities in Islamic finance has grown continuously over the past 30 years.

To date, seven Islamic funds have been launched with total assets under management of USD 3.6 billion.

It represents 7.9% of all Islamic funds managed around the globe.

There are about 15 financial institutions that operate on an “usury-free” basis.

They offering a wide range of Shari’ah-compliant:

-      products

-      and services.

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)