France and Islamic Finance

CEO of the Franco-American Alliance for Islamic Finance (FAAIF) Camille Paldi explains that there is a huge potential for Islamic finance in France. This is due to the fact that France is the fourth-ranked financial market worldwide and number one in the Eurozone and desires to attract liquidity from cash rich Gulf investors and Asia. This factor coupled with a large Muslim population and an open-minded and financially savvy general populace equates to a large success factor for Islamic finance in France. French officials forecast that France may attract US$120 Billion in Islamic assets through lending and investments in French businesses, property, and financial markets by 2020.