Our Managing Partner at Del Canto Chambers, León Fernando del Canto, has published a new article at Spanish journal Cinco Días wherein describes the business chance that Islamic Finance means for investors in Spain.
Islamic Finance is a sharia-compliant emergent financial model forbidding interest rates payments and speculation, among others.
Although it still is an under-developed finance sector, Del Canto points out that it is not unknown in Europe: the United Kingdom is leading those finance services provisions in the continent. Islamic Finance offers products such as sukuk (bonds) and takaful (insurances) which might be a funding chance for Spain and to foster Spanish exports too.
Finally, Del Canto notices that Islamic Finance could also bring cultural advantages by being a kind of bridge between the Arab world and Europe.
Del Canto Chambers’ Editorial Board