Take-off delayed: Despite favourable demographics, France lags behind its European neighbours in the development of the Islamic finance industry. Photograph: Shutterstock.
Islamic Finance in France
November 30, 2014 | Updated at September 27, 2017
With approximately 5 million residents, France has a large Muslim population, more than any other European country, originating mostly from the Maghreb countries (Algeria, Morocco, and Tunisia). However, despite the favourable demographics, France is falling behind its European rivals in courting the Islamic finance industry. As the United Kingdom basks in the success of its maiden sovereign Sukuk issuance and other European countries (particularly Ireland and Luxembourg) showing similar commitment, many analysts are asking where is France, in Islamic finance? Researcher and French entrepreneur, Ezzedine Ghlamallah, explores Islamic finance in France and how the industry can penetrate the market.
Many people wonder why it seems...