In Spain, the principles of Islamic sharia applied to the Spanish financial market would add to its diversification and meet the needs of the Spanish Muslim population to have access to Islamic finance.
In Spain, Islamic finance is predestined to be established in view of the rich and fruitful history of Spain during the Islamic occupation.
In Spain, not only the importance of the Muslim population in the country is a justification for the establishment of a legal and fiscal framework for Islamic finance, but especially the commercial repercussions for the country that would result from Islamic investments.
Islamic Finance in Spain is facing some obstacles so far as Spain's banking, regulatory and tax regulations are not adapted to absorb contracts and practices governed by the precepts of the Islamic law.
Islamic mortgage in Spain would be difficult to make it viable as an alternative to traditional mortgage loans as it needs an adapted tax regulation as well as a change of Spanish laws.