Islamic finance in Belgium was non-existent until now. The presence in Belgium of a large Muslim community looking for Halal loan will change the current situation.
The main problem that remains in Belgium is that local legislation has not yet found a solution to allow Islamic finance in Belgium.
In Belgium, Islamic finance must first be applied in the context of the Islamic real estate activity that is desired by Muslims living in the kingdom.
Indeed, the main blocking point, in the context of Islamic finance in Belgium, was among other things the duplication of registration fees.
In Belgium, an Islamic bank is preparing to launch a current account compatible with Islamic Sharia in Brussels. This project is under study and is being discussed with the Belgian Financial Regulator, the Financial Services and Markets Authority (FSMA).
The European Union allows financial institutions already established in a member country (France) to also settle in another member country (Belgium), thus the halal loan Halal which is gaining in expansion in France will spread on Belgium very soon.