Geneva to host Islamic Conference in May to promote Shariah Laws

The rapid development of the Islamic finance and Islamic banking industry, not only in the Middle East but across the globe, has produced new Shariah compliant products and structures, which have in turn resulted in a substantial growth in demand for Islamic financial services. The number of Islamic institutions and their assets grew approximately at an average annual rate of 20% in the world.

Western countries are now developing more competitive Islamic Finance products which are no longer considered as a specialised structure developed for religious purposes. Except for London, European financial centres do currently not have a suitable offer to those who wish to invest a part in conformity with Islam, comparing to Dubai, Bahrain and Singapore. Although having a net delay in Islamic banking financial centres like Geneva manage today up to 300 billion dollars asset Moslems.

This conference aims to examine some critical issues arising from the implementation of Islamic Finance from jurist, legal, and practical perspectives with a focus on how to create Shariah Compliance in Financial Products, and how to incorporate Islamic Finance into the financial mainstream. Read more ...

Source: Financial Events
H/T: Sharia Finance Watch