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Islamic Finance and the Regulatory Challenge: The European Case

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Islamic Economics and Finance

Part of the book series: IE Business Publishing ((IEBP))

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Abstract

Islamic finance (IF) came into being no more than five decades ago. Its institutional development can be divided into two phases: that of the 1960s, which witnessed the introduction of a local savings bank in the rural area of Mit-Ghamr in Egypt,1 and that of the mid-1970s, which saw the introduction of commercial private banking and an inter-government initiative2 at regional level among OIC3 countries. Since then, Islamic finance has grown steadily, spreading from one institution in one country to more than 400 institutions in more than 70 countries with total assets reaching the threshold of one trillion US dollars.4 In addition, its operations have diversified.

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Authors
  1. Ahmed Belouafi
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  2. Abderrazak Belabes
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Editor information

Editors and Affiliations

  1. IE Business School, Spain

    Jonathan Langton

  2. SCIEF, IE Business School, Spain

    Cristina Trullols (Director) (Director)

  3. King Abdulaziz University, Saudi Arabia

    Abdullah Q. Turkistani (Director of the Islamic Economics Research Center) (Director of the Islamic Economics Research Center)

Copyright information

© 2011 The Saudi-Spanish Center for Islamic Economics and Finance

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Belouafi, A., Belabes, A. (2011). Islamic Finance and the Regulatory Challenge: The European Case. In: Langton, J., Trullols, C., Turkistani, A.Q. (eds) Islamic Economics and Finance. IE Business Publishing. Palgrave Macmillan, London. https://doi.org/10.1057/9780230361133_7

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