Sharia Banking Comes to Germany
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There are four million Muslims living in Germany. They eat, drink and pray in accordance with the precepts of the Prophet Muhammad. But when it comes to monetary transactions, the principles of the Koran have played hardly any role in Germany. That is about to change.
Early next year, the first Islamic bank in Germany to offer products that are in compliance with Sharia law will open its doors.
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No Investment in Gambling or Sex Trade
Investments that comply with the Koran still represent only 1 percent of the total market, but the market is growing is by 15 to 20 percent a year. Customers from the oil-rich Persian Gulf region, in particular, insist that their capital must be invested in accordance with religious criteria.
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What do you suppose will happen? Do you think it's a wise decision?
