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Home Articles Which Countries Practice Islamic Finance?

Which Countries Practice Islamic Finance?

IndianMoney.com Research Team | Posted On Thursday, April 09,2009, 01:03 PM

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Which Countries Practice Islamic Finance?

 

 

What is Islamic Finance?

Islamic finance is a type of financing activities that must comply with Sharia "Islamic Law". Islamic finance refers to the means by which corporations in the Muslim world, including banks and other lending institutions, raise capital in accordance with Sharia, or Islamic law. It also refers to the types of investments that are permissible under this form of law.

The countries where Islamic financial institutions are functioning include as follows:

Albania

India

Palestine

Algeria

Indonesia

Philippines

Australia

Iran

Qatar

Bahamas

Italy

Russia

Bahrain

Ivory Coast

Saudi Arabia

Bangladesh

Jordan

Senegal

British Virgin Islands

Kazakhstan

South Africa

Brunei

Kuwait

Sri Lanka

Canada

Lebanon

Sudan

Cayman Islands

Luxembourg

Switzerland

North Cyprus

Malaysia

Tunisia

Djibouti

Mauritania

Turkey

Egypt

Morocco

Trinidad & Tobago

France

The Netherlands

United Arab Emirates

Gambia

Niger, Nigeria

United Kingdom

Germany

Oman

United States

Guinea

Pakistan

Yemen

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