Islamic Finance Services in Italy- An Update
As mentioned in our article on Islamic financial services in Italy published in the Islamic Finance news 2008 Guide at the beginning of the year, the ‘Bel Paese’ (‘Beautiful Country’) was home in 2007 to around 1.4 million Muslims. They represented 32% of the 3.7 million foreigners residing in Italy or 2.3% of Italy’s population and evenly distributed, with 55% living in the north, 25% in the central region and 20% in the southern part of the country. more…

More Than Just a Hope for France
Islamic finance began in the 1970s and aimed to develop banking services based on the Shariah. Historically based in the Middle East and Southeast Asia, it now benefits from increasing interest at the international level. Being the European pioneer, London seeks to attain the worldwide leading position and Paris intends to follow close behind. more…

Frequently Asked Questions: Notable Trends in Islamic Finance in France
The issue of Islamic banking and finance becoming more international, if not global, is important. In particular, Moody’s recently commented on the industry’s strong prospects in France, where the French minister of economy and finance has just announced support for Islamic finance. more…

The Impact of the Credit Crunch on Islamic Securitization
Perhaps the biggest innovation in the capital markets in recent years has been the growth of Islamic finance through the issue of Sukuk and, more recently, Shariah compliant securitizations, mainly from issuers based in the Gulf and Malaysia. It is estimated that over US$100 billion Sukuk are currently outstanding. more…

Munich Re Retakaful Focuses on Innovation
Munich Re’s reTakaful operation continues to focus on innovation in developing Shariah compliant products to stay ahead of the competition, relying on its combination of (non-Shariah related) technical expertise and in-depth study of Takaful issues. CEO Dr Ludwig Stiftl (pic) describes these as the key that sets it apart from the competition. more…