Islamic Finance in Europe (ePub)

'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, Industry, and Employment 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'. 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. 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 the 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.