INTEGRATING ISLAMIC FINANCE IN THE EU MARKET

Integrating Islamic Finance in the EU Market

Dr Valentino Cattelan

Jean Monnet Module

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.

Islamic Finance Summer School

ISLAMIC FINANCE AND PLURALISM
Managing diversity as an opportunity for growth
Rome, 4-6 July 2012

In the last decades globalization has shrunk the world into a smaller place. With regard to the international financial system, this has contributed to re-conceptualize the traditional frame of inter-state commerce in the light of trans-nationalism and pluralism.

In this context, the recent emergence of the Islamic financial market offers operators new opportunities, while raising new challenges. In fact, with over 600 institutions and assets estimated at over 2 trillion USD, Islamic finance constitutes an attractive area of investment for market operators; but, at the same time, it requires the acquisition of new skills in order to transform diversity in an opportunity for growth.

Accordingly, the Summer School provides attendants with fundamental means for dealing with Islamic finance as an emergent transnational market, highlighting its peculiar tools for portfolio diversification and risk management, as well as for the promotion of social responsible investments and sustainable growth.

For the detailed programme and registration, please visit www.islamicfinance.it

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