France Targets Middle East Finance Market
Published / Last Updated on 04/09/2008
France Targets Middle East Finance Market
According to a report from Standard & Poors, France is looking to catch up with the UK in a bid to secure a bigger slice of Islamic finance business. The UK has taken the lead in Islamic finance over the past five years, but the French government has signalled a change in attitude by announcing a raft of adjustments to fiscal and legal regulations in July.
Standard and Poors credit analyst Mohamed Damak, said “Islamic finance has been one of the most dynamic asset classes over the past decade, with total assets exceeding $600bn; and we believe the industry will continue growing at double-digit rates in the foreseeable future”.
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