| As France attempts to launch its nascent Islamic financial sector, its first Sukuk issues finally appeared last summer. Since the first declarations by the Minister of the Economy in 2008, fiscal adjustments concerning Islamic financial instruments have made slow but sure progress, but the development of Islamic products has been very gradual.
However, there has been some progress in the area of Islamic retail banking. In June 2011, Chaabi Bank, The French subsidiary of the Moroccan Banque Populaire Group, opened an Islamic window offering Islamic deposit accounts for private customers..............................................Full Article: Source
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