If you want to see how Islamic finance is transforming our society, you’re going to need to take a look at this recent report from the Financial Times titled “How Islamic finance will change how we live in the 21st century” (PDF).
It highlights how Islamic banking is transforming how we think about finance.
The article begins with the following quote: We are in a moment of profound change in the global economy.
There are people who have spent their whole lives fighting against the system.
Many of these people have a different view of finance than the average consumer.
And that view is often distorted by misconceptions about the world.
In the last decade, we have witnessed an explosion in Islamic finance, with many people investing in Islamic-oriented businesses.
The Financial Times reports that the value of Islamic-owned banks in the United States rose from $30 billion in 2000 to $2.7 trillion in 2016.
It says this explosion is also happening in emerging markets like China and India, where Islamic finance dominates.
The report continues: In the United Kingdom, where Islam is a major religion, the number of Islamic banks has more than tripled over the last 30 years.
In Germany, where the faith is the state religion, Islamic banks now have over 100,000 branches and serve about 80 million customers.
This is the result of an influx of millions of people who are seeking a sense of community and belonging in a globalized economy.
In France, where Muslim-majority regions dominate the country, Muslim-owned credit institutions are now among the biggest in Europe.
The Middle East, Asia, and Latin America have seen significant growth in the number and size of Islamic finance institutions.
But what about the rest of us?
How will the Islamic financial revolution affect our everyday lives?
We’re not talking about financial institutions that we use every day, but businesses that are in our daily lives.
The new Islamic financial paradigm is reshaping how we spend money, our social networks, and how we interact with each other.
What you need to know about Islamic finance 1.
The Islamic banking system is fundamentally different from the banks that we used to know.
The banks that you and I use today were built around a system of credit cards.
These cards were usually issued by a small number of large banks that were located in cities like New York, London, and Shanghai.
But as Islamic banking emerged, new technologies were introduced that allowed the banks to scale up.
They became much larger and more complex.
As a result, today, there are about 30 banks operating across the globe.
There is one Islamic bank in the Middle East that is one of the world’s largest Islamic financial institutions.
These are the institutions that are being targeted by Islamic finance and are currently under the scrutiny of the European Banking Authority (EBA).
These institutions are under investigation by the EBA and the European Parliament.
They include Bank of China, Bank of Russia, HSBC, Mizuho Financial Group, and the Bank of Oman.
The EBA is also investigating the Bank for International Settlements (BIS), which is the world Bank for Settlements.
As the EBP and the EMA have pointed out, there is an international movement of money that is becoming increasingly interconnected.
2.
As Islamic finance has grown, it has also shifted the financial landscape.
Banks in the US and other countries have struggled to keep up with this influx of money, and they have been forced to rely on intermediaries and third parties.
As an example, we recently witnessed the closure of two of the largest Islamic banks, Bankers Trust International (BTI) and BNP Paribas, after they were accused of facilitating the transfer of money from Middle Eastern countries to European countries.
3.
As banks become more complex, so too do their customers.
For example, in 2016, more than half of the banks surveyed by the Bankers Association of America (BAA) had no customers in the U.S. At the same time, as the number, types, and value of financial products have increased, so has the amount of financial transactions.
This has created a huge demand for new financial products that cater to the needs of the new customer base.
For instance, the average customer now spends nearly $300 per month on credit cards, with most of that spent on credit card applications, debit cards, and other forms of payment.
In addition, there has been a dramatic increase in the amount and type of financial services that are offered.
In fact, for some of the most important financial services, like auto loans and student loans, the total number of transactions rose from about $1 trillion in 2005 to $4 trillion in 2015.
What can you do to help protect yourself from the Islamic banking revolution?
3.1 Protect yourself From Islamic Financial Enablers The EBP recently called on financial institutions to take concrete steps to prevent Islamic finance from infiltrating the
