Islamic Finance in Europe
Title | Islamic Finance in Europe PDF eBook |
Author | Mohyedine Hajjar |
Publisher | Springer |
Total Pages | 338 |
Release | 2019-05-10 |
Genre | Business & Economics |
ISBN | 3030040941 |
Information about Islamic finance in European countries is usually provided by professional-style reports, offering practical data on implementation of standardized products. However, precise developments about material legal provisions applicable to contracts and their actual legal regime are not often detailed. In order to fill this gap, 15 researchers from across Europe contributed to this project. They describe the state of actual Islamic finance in 10 European countries, as well as applicable EU law. By combining legal analysis with statistical description of existing practices and social demand, this book provides an exhaustive account of the current potential of Islamic finance in Europe.
Islamic Finance in Europe
Title | Islamic Finance in Europe PDF eBook |
Author | Valentino Cattelan |
Publisher | Edward Elgar Publishing |
Total Pages | 260 |
Release | 2013-01-01 |
Genre | Business & Economics |
ISBN | 1781002517 |
Highlighting the impact of current globalization on financial markets, this topical book challenges the universality of Western property rights and interprets Islamic finance in Europe as part of a plural financial system, where different conceptions of economic justice(s) co-exist and influence each other. The contributing authors analyse key economic development and social integration issues from an Islamic perspective and outline the European approach to accommodating Islamic finance, with particular regard to the peculiarities of individual nation-states. Set in this context, the book presents financial pluralism as a device to enhance a level playing field in the global marketplace, as well as to foster a plural open society. Providing a comprehensive and methodological guide to Islamic finance in Europe, this book will prove an illuminating and informative read for academics, students and policymakers with an interest in the impact on financial regulation of an increasingly globalized world.
Islamic Banking and Finance in the European Union
Title | Islamic Banking and Finance in the European Union PDF eBook |
Author | M. Fahim Khan |
Publisher | Edward Elgar Publishing |
Total Pages | 253 |
Release | 2010-01-01 |
Genre | Business & Economics |
ISBN | 1849803412 |
As an introduction to the complex issue of harmonization of legal and regulatory structure of the European financial system and Islamic finance, this is a useful and welcome volume. The ideas, insights and practical issues addressed in the informed papers that compose the book should be valuable for academics and students of finance, and to those who provide legal and financial services. The book will be helpful also to European regulators who have yet to appreciate the importance of Islamic finance and its potential contribution to financial globalization as well as to European economic growth. Abbas Mirakhor, Former Executive Director, International Monetary Fund, US This timely book examines the authorization of Shari ah-compliant intermediaries as either credit institutions or as investment companies in the European Union. The contributing authors explore the key topics of this area through differing yet parallel perspectives for example, comparing economic and legal standpoints, looking at both European and national levels and considering both academic and technical approaches. The book discusses the common origin of Islamic and Western traditions in commercial and banking transactions, reviewing a period in which the Italian merchants and their organizations drove the rebirth of post-medieval society in trade and law. The editors investigate whether the Islamic banking and financial model complies with the European framework, spelling out the different experiences in single Member States (Germany, France, Italy, and the United Kingdom). Notwithstanding the obstacles to being authorized as domestic credit institutions, they conclude that the access of Islamic intermediaries is suitable and may have positive effects on European integration, as well as increasing the competition among the stand-still operators and evoking the ethical dimension of banking and finance. The book also highlights how Islamic banking would make the industry more inclusive. This multidisciplinary book will appeal greatly to economics and legal scholars with an interest in European and international banking and financial law, as well as postgraduate students in international law and banking law. Practitioners and regulators will also find this book an invaluable resource.
Islamic Finance in the Financial Markets of Europe, Asia and America
Title | Islamic Finance in the Financial Markets of Europe, Asia and America PDF eBook |
Author | Faiza Ismail |
Publisher | Taylor & Francis |
Total Pages | 167 |
Release | 2022-08-30 |
Genre | Business & Economics |
ISBN | 1000643042 |
Among international financial centres (IFCs), London is known as the ‘Western hub of Islamic Finance’, on account of its well-developed legal infrastructure. However, Brexit has threatened London’s status and consequently, the financial services industry is moving to Dublin to continue operating in the Euro region. Similarly, Islamic finance (IF) service providers in the UK are also looking to Dublin for expansion of this niche area in euro member states. This is the first book to be written about Islamic finance operations in the Eurozone. The book offers an in-depth description of International Financial Centres and the growth of Islamic Finance, compares the growth of Islamic finance in London, Dubai and Kuala Lumpur, outlines the implications of Brexit for financial service providers in London in general and Islamic investors in particular and also presents a case study of Ireland to establish the latter as the most appropriate country to promote IF in the Eurozone. The time is particularly right for a book exploring the potential of Ireland to emerge as a Eurozone hub of Islamic finance, as a result of Britain’s exit from Europe. The book will cater to the needs of readers studying IF in the disciplines of economics, business, law, and religion. A secondary market includes practitioners, such as policymakers, lawyers, fund managers, accountants, regulators and international investors, who will be interested in exploring the benefits that the UK and Ireland have to offer the Islamic finance industry.
Islamic Economics and Finance
Title | Islamic Economics and Finance PDF eBook |
Author | J. Langton |
Publisher | Springer |
Total Pages | 208 |
Release | 2011-11-11 |
Genre | Business & Economics |
ISBN | 0230361137 |
In June 2010 IE Business School, with King Abdulaziz University, gathered in Madrid some of the world's foremost scholars, academics and practitioners of Islamic Economics and Finance. These highlights of the symposium and original articles specifically address the post-crisis application of this growing and relevant economic philosophy in Europe.
Islamic Finance in Europe
Title | Islamic Finance in Europe PDF eBook |
Author | Djibril Ndoye |
Publisher | Livres Du Monde |
Total Pages | 130 |
Release | 2019-11-15 |
Genre | Business & Economics |
ISBN | 9781543989977 |
"We will adapt our legal environment so that the stability and innovation of our financial center can benefit Islamic finance." These words of Christine Lagarde, former French Minister of Economy reflect Islamic finance interest today in European countries. This type of finance could yield 100 million millions for France as indicated by the report of Jouini-Pastré (2008) entitled "Challenges and opportunities of the development of Islamic finance for the Paris financial centre: Ten proposals to collect 100 million millions". Reading the title of this report, one can quickly grasp the extent of the economic challenge that Islamic finance represents for the countries of the European Union. What is certainly a pity is that it took a financial crisis for Islamic finance to be propelled to the forefront of the European economic scene when we have had almost over a century of Muslim presence in Europe. It is thus fair to ask the question whether this legal and fiscal adaptation to accommodate Islamic finance is actually made to serve the European population of Muslim faith, who today represent 5% of the population of the European Union and who aspire financial products more in line with their religious beliefs. Demographers even predict that in 2050, 20% of the population of Europe will be Muslim. Is it not Europe's duty to adapt its financial system so that all its citizens can exchange while respecting their values? The reality is different today. Indeed, the economies of the developed countries (including the European countries), especially in the context of the global financial crisis, have more than ever a need for financing if they want to maintain a certain level of growth in their countries, preserve jobs in their businesses and continue to invest in the infrastructure of tomorrow. This is the reason why many world capitals undertook, very early, to adapt their legislation to attract this financial windfall. In Germany, the United Kingdom and even more so in France, with more than 6 million Muslims, there is a demand for Islamic financial products, both for the financing of private real estate investments and for investments in accordance with the precepts of the Koran. We could have been spared the subprime crisis as well as the sovereign debt crisis in Europe and the exacerbated volatility of the financial markets, of commodities and of foodstuffs would have been significantly reduced if Western countries had been inspired somewhat by the spirit of Islamic finance. On the supply side, some factors are favorable, but others are still holding back its growth. In 2018, Islamic finance was estimated at nearly US $ 2400 million millions in assets and its growth in the next five years was reported to be twice as fast as that of conventional finance.Also, only 50% of the potential market of the Islamic financial industry is currently (2019) exploited (an estimated potential of US $ 4,000 million millions). The first part of this book is a reminder of the different stakes of Islamic finance for European states in a global post-financial crisis context. A second part will try following a chronological study to draw up an inventory of Islamic finance in Europe through the study of different leading countries on the subject: the case of United Kingdom, the case of Turkey, the case of Germany and the case of France, without forgetting other European Union countries. Finally, the third part will focus on the supply of products and services in a market whose growth potential is still very untapped considering current innovation wave in the field of islamic finance fintech, blockchain and cryptocurrencies.
Economic Development and Islamic Finance
Title | Economic Development and Islamic Finance PDF eBook |
Author | Zamir Iqbal |
Publisher | World Bank Publications |
Total Pages | 376 |
Release | 2013-08-05 |
Genre | Business & Economics |
ISBN | 0821399535 |
Although Islamic finance is one of the fastest growing segments of emerging global financial markets, its concepts are not fully exploited especially in the areas of economic development, inclusion, access to finance, and public policy. This volume is to improve understanding of the perspective of Islamic finance on economic development, social and economic justice, human welfare, and economic growth.