ITALY - Crisis: Islamic finance growing but not in Italy

ansamed.ansa.it - (ANSAmed) - MILAN, MAY 16 - Islamic finance is growing at an annual rate of 20%. It has a global value of 1,600 trillion USD and counts 400 institutes with their offices. But the system is not breaking through in Italy, but according to Hatem Abou Said of Al Baraka Banking Group (Bahrain) ''it could be useful also to support SMEs, which have limited access to credit through the traditional systems, with their internationalisation process." Abou Said spoke during a conference in Milan on the issue, saying that the crisis in the West and the Arab Spring ''there is complementarity''.  (source)

ITALY - FORUM - ABI Internationalisation Forum

(ANSAmed) - ROME - Strengthening economic collaboration with countries in the Gulf Region to increase trade and investment and financing opportunities, also by introducing Sharia compliant instruments to Italy: from Sukuks, or investment certificates compliant with the principles set forth in the Koran to Islamic instruments to collect funds to Islamic financial products destined for the retail sector. Italian and Arab banks, businesses and institutions met with this objective in mind today in Rome at the ABI Internationalisation Forum, which this year is dedicated to 'Islamic banking: how and why', taking place before the coming sector initiative in the beginning of November that will see 10 of the main Italian banks in Saudi Arabia and the United Arab Emirates.