JEAN MONNET MODULE: INTEGRATING ISLAMIC FINANCE IN THE EU MAKET

Integrating Islamic Finance in the EU Market

Jean Monnet Module

Dr Valentino Cattelan

In the current globalization of financial markets, the recent emergence of Islamic finance in Europe, and especially in the UK, enjoys the peculiarity to raise further concerns for the promotion of adequate social, intercultural, inter-religious and migratory policies in the EU. It also raises new issues for the best integration of religious minorities in Europe, as well as doubts on the tenability of the application of religious laws within a secular polity.

Considering all this, the Module aims at promoting a deeper understanding of the phenomenon, thanks to an interdisciplinary approach to comparative law and economics. On the one side, the Module explores the rationales of conventional and Islamic finance and their divergences in risk management; on the other side, it analyses the development of Islamic financial products and services and its impact in the European Union both as an instrument of social and economic integration of Muslim minorities, and as a factor of financial integration of the EU Member States with Mediterranean and Gulf countries, in the context of the Mediterranean Business Development Initiative, as a priority of the Euro-Mediterranean Partnership.

The Module is addressed to practitioners and financial advisors, as well as to students of international economics and finance, aiming at specializing in migrant banking and Mediterranean economy. As a consequence, it comprises a variety of integrated activities and covers the largest spectrum of audience.

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