Sunday, December 13, 2009

Islamic Finance in France

This article is very interesting because it talks about the adoption of Islamic finance principles in the European countries. The reasons for that lie mostly in the opportunity to make profit rather than in cultural motives. For instance, the author states that since the recession started the Islamic finance started to look like an "attractive business," with "worldwide sharia-compliant assets increased by 29% over the past year to $822 billion." However, the introduction of Islamic finance rules in France led to a hot debate in the government, which opposes the whole idea.

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