Thursday, October 22, 2009


This article was of particular interest to me, because I come from the first city in Germany that will have Sharia banking rules.  Mannheim, my old Mannheim, I can't believe it.  I found this article in Der Spiegel, and one just wonders when the first Sharia Bank will come across the oceans to the US. I'm not saying I'm happy about this, probably more concerned if anything.  But then there is a huge Muslim contingent not far from where I live now, we can't get away from them anymore.....

Germany's Muslims are finally getting a bank offering financial products that comply with Sharia law. It is a market worth billions, and one that many major banks around the world have long discovered.

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. More here

An investor follows the stock market at the Dubai Financial Market. The global market for Sharia-compliant financial products is growing. Now Germany is to get its first bank that offers services to customers who wish to conform to Islamic law.

No comments:

Post a Comment