Financial Products for Muslims Capture the Market

Business, Economy, Finances, Banking & Insurance
Press release from: IIR Deutschland GmbH
(openPR) – 1st IIR “Islamic Finance & Real Estate Forum”
on 4th and 5th November 2008 at the Hotel Hessischer Hof, Frankfurt, Germany



Frankfurt, August 2008. If Germany wants to profit from the growing demand for Islamic financial products, both politics and financial management are challenged. The structure of financial products which comply with the Islamic law (Sharia) has to be different from those common in Germany. This requires target group-specific concepts on the one hand and new legal constraints on the other (FAZ, 23rd July 2008). “Islamic banking, stigmatised as a marginal issue only a couple of years ago, has become increasingly popular – not only in predominantly Arabic regions, but also in non-Islamic countries,” said Zaid el-Mogaddedi, Managing Director of the Institute for Islamic Banking & Finance (IFIBAF). According to the IFIBAF, the estimated global potential of Sharia-compliant financial products amounts to approximately four trillion US dollars (Kreditwesen 15/2008).

Strategies for Sharia-compliant financial products
Together with Alberto G. Brugnoni, President and Founding Member of the Associazione per lo Sviluppo di Strumenti Alternativi e di Innovazione Finanziaria (ASSAIF), el-Mogaddedi is chairman of the 1st IIR “Islamic Finance & Real Estate Forum”, which will take place in Frankfurt , Germany, on 4th and 5th November. More than 20 economic experts from Europe and Asia will illustrate the chances and risks of Islamic finance for the banking and real estate business. Sheikh Dr. Mohamed Ali Elgari, Professor at the Saudi-Arabian King Abdul Aziz University, and Dr Mohd Daud Bakar, President and CEO of the International Institute of Islamic Finance (IIIF) in Kuala Lumpur, are among the speakers. Both are Sharia Board Members of the Islamic Bank of Asia in Singapore. The programme for the event is available in the internet at:

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