In Germany, Islamic finance is beginning to take its first steps to face a growing domestic demand given the size of the Muslim population that is among the largest in Europe.
In Germany, Islamic finance has been used for many years already by German banks but outside Germany, abroad serving the demand of Muslim countries such as the Gulf countries and South East Asia.
Germany has more than 5 million Muslims and consumers in its territory who aspire to use Islamic financial products, whether halal or halal insurance.
The Muslim population who practice Muslim religion also wants to integrate halal financial products in the framework of the principles of Islam, from Islamic financing of the car, to the Muslim real estate loan, as well as investment of money and Islamic savings.
A first foreign Islamic bank recently opened in Germany with the aim of serving mainly the Turkish Muslim community by offering it halal German financial products.
ISLAMIC FINANCIAL PRODUCTS OFFERING IN GERMANY
The German Islamic bank offers halal financial services for both individuals and corporates:
Islamic consumption loan for tangible goods.
Halal car credit.
Islamic Real Estate Loan.
Islamic business financing.