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Britain and France lead on Islamic finance
by David Crossland
Germany has been a desert as far as Islamic banking is concerned and analysts remain sceptical about the market potential for such products in Europe's largest economy.
Part of the reason is the majority of Muslims in Germany are of Turkish origin and relatively secular in outlook. Their relatively low income is a further factor.
"In Turkey, Islamic banks have a market share of just five percent, and that hasn't increased in 40 years," said Rebecca Schönenbach, an Islamic finance specialist at the Raven Centre, a think tank on the subject.
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