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Islamic Finance Briefing - Categorized | Banking, Emerging Trends, Market Moves more

Sharia banking comes to Germany

Posted on 27 October 2009

From Businessweek.com: There are four million Muslims living in Germany. They eat, drink and pray in accordance with the precepts of the Prophet Muhammad. But when it comes to monetary transactions, the principles of the Koran have played hardly any role in Germany. That is about to change.

Early next year, the first Islamic bank in Germany to offer products that are in compliance with Sharia law will open its doors. The bank, Kuveyt Türk Beteiligungsbank, will open a branch in the downtown area of Mannheim, a city in western Germany, and branches in other cities are also planned…………………….Full Article: Source

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