Islamic banking

Islamic Finance is enjoying an ever-growing interest on the part of European economists. This sector has been undergoing intensive development since the last forty years. Many global banks have invested considerable amounts of money in this region, taking advantage of high cash flow being the result of oil industry’s presence and big investments and, at the same time, making allowances for Sharia law. The author discusses different kinds of Arabic financial institutions and services as rendered by them. He points out to their specific character and their attempts to adjust to the foreign standards, whilst following Koran guidelines.