Scientist: Islamic banking is a niche phenomenon in Germany

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Islamic banking remains a niche for Germany, says economist Matthias Casper. The situation in Great Britain looks completely different.

The Islamic banking system in Germany won’t be as successful as it is in Great Britain, says economist and jurist Matthias Casper. The market for Islamic banking is limited. On the one hand, there are not as many Muslims in Germany as there are, for example, in Great Britain, and on the other hand, the majority of Muslims living in Germany come from secular Turkey, reports the FAZ.

According to Casper, the only Islamic bank in Germany has about as many customers as a small to medium-sized Volksbank. He is also sure that Islamic banking is not interesting for non-Muslims. For people who do not want to invest in the arms industry, for example, there are enough other offers in the area of so-called ethical banking.

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