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We know that there is state sponsorship of terrorism. Is there state sponsorship of Shariah finance?

April 26, 2017Finance shariah sponsorship State terrorism

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We know that there is state sponsorship of terrorism. Is there state sponsorship of Shariah finance?

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• State sponsorship of Shariah finance has been ongoing since its inception with the founding of the first Shariah-compliant bank in 1975, Islamic Development Bank (IDB). • In Iran, which has more Shariah-compliant institutions than any other nations, all of the banks are in fact state-run. • More recently, UAE has created the DIFC, which is a trade free zone in Dubai which states it’s preference for Shariah compliant companies and banks.