Islamic Finance In France: Current State, Challenges And Opportunities

In spite of its small share of the global financial market, Islamic finance is considered as one of this sector’s fastest growing components over the last few decades and has gained further momentum in the wake of the global financial crisis. Given the France’s position as one of the leading international financial markets, it is surprising that part of this growth has not taken place in La Place de Paris. France, the western European country with the largest Muslim population, has not make much progress in developing Islamic finance in the domestic market like her neighbors UK. The paper examines the development of and possible prospects for Islamic finance in France. As well as, this study discuss the breakthroughs, issues and challenges facing this sector in France.