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In 2007, the size of Islamic market was over $700 billions. According to some estimates, this market will grow to $1 trillion by 2010, and quadruple by 2013 - reaching the $4 trillion mark. Under tough crisis conditions, conventional economies and “western” financial markets need to update their business models and financial policies. Seizing the opportunities linked to Islamic finance is one of the common European strategies but the market is still nascent. Over the past five years, European governments made significant changes in their policy to enable Islamic banks to enter the European financial market. Sharia compliance however has significant impacts on IT systems and processes. Mentality, legislation and IT Systems need to be adapted.
Islamic Finance: a performing way...
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