Islamic Finance aims to reach 4,000 billion dollars by 2025

According to the documentation center of the French Economy and Finance Ministry (CEDEF), the term Islamic finance coversall financial services in accordance with Sharia Islamic law that bans receipt and payment of interest (riba), excessive uncertainty (gharar), gambling (maysir), speculation like short sales and compels the sharing of the risks and rewards of any financial, business transaction.

In spite of the limitations it sets, Islamic finance has established a presence in more than 60 countries and has become systemically important in 14 jurisdictions, according to the latest data delivered by the IMF in its latest report Ensuring Financing Stability in Countries with Islamic Banking.

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