Saturday 18 December 2010

BANKING - Germany's first Islamic bank opens (Kuveyt Turk)

BONN - Kuwait Turkish Participation Bank has opened its first branch in the city of Mannheim, Germany.

Experts four million Muslims living in Germany for at least 15 percent of his money and bank 5 billion Euros in the bank deposits will have yatıracağını estimate.

Operating according to the Islamic bank, games of chance, namely Islam, including pornography, weapons or engage in unlawful counts of commercial jobs.

Currently working as a bank intermediation, the Muslims in Turkey to open a heasabı gives interest-free deposit.

Mannheim Branch Manager Ugurlu Soylu, as much as possible within a short period of time will receive a full license to provide banking services in this case would be Germany's first Islamic bank, he said. Noble, deposits are not forbidden according to Islamic principles, areas of interest instead of investing the bank's customers said they would be common to the abdomen.

USB-based Bank of Switzerland in Germany so far, several financial institutions such as Allianz ruled Islamic Fund.

Green is common in the capital at the center of a few German Bank in Saudi Arabia to invest in the areas allowed by the Sharia council had tried to use the funds. Deutsche Bank's long-standing, are investing abroad and Islamic banking field, "the Bank" in Germany under the name of the account opening gives the Muslims in Turkey.

Kuwait Turkish Participation Bank will target advertising work on the introduction of Islamic funds to provide a more active manner. Some experts pointed out in Germany, the Turks made up of moderate Muslims in Kuwait Turk Bank looking at this initiative with suspicion, some of them in parallel with discussions in Germany also expects to increase the demand for Islamic funds.

Source : http://fashionstyletrendy.blogspot.com/2010/12/germanys-first-islamic-bank-opens.html - Dec 16, 2010