Note in the article linked below two important aspects: First, Dubai Exports makes no secret about the fact that this is MISSIONARY work, something that has been pointed out over and over by other financial jihadists and on the pages of SFW. Second, note the disturbing demographic numbers for Germany supplied in the article as well. Excerpts and link provided…
Dubai Exports, an agency of the Dubai Department of Economic Development (DED), Government of Dubai, led an Islamic financial services trade mission to Germany. The mission was organised in partnership with the German Emirati Joint Council for Industry and Commerce (AHK) and sought to assist firms from the UAE to enter the largest economy in Europe.
Saed Al Awadi, CEO of Dubai Exports, said that, “two years ago we started promoting UAE‘s capabilities and expertise in Islamic or Shariah compliant financial services to major markets abroad. We were not surprised by the overwhelmingly positive response and the successful outcomes that have been achieved to date. This mission builds on from our previous successes and allows our firms in the sector to target new markets.”
The Mission was accompanied by leading firms in the sector based in the UAE with the principle aim of showcasing the high level of expertise in the area in Dubai as well as to connect the participants with potential opportunities in Germany.
Germany has the largest Muslim population in Europe of 4 million with an estimated wealth in excess of Eur35bn. The German potential is huge for the Islamic finance world because the growth rate of the population is high as well as being young. Three quarters of the Muslim population in Germany is below the age of 49.
In addition, estimates show that the Muslim population in Germany has a much higher saving ratio of 18% compared to 10% for the country as a whole. More importantly, a survey in 2010 showed that 72% of Muslims living in Germany are interested in Islamic Financial products. The survey found that if such products were to be offered in Germany 60% of respondents would consider an investment. An amazing 94% of them stated that they would purchase such products if offered by an Islamic financial institution.
The German state of Saxony Anhalt has already issued an Islamic bond or sukuk.