Saturday, July 30, 2005 : Islamic mortgage market to expand

From : Islamic mortgage market to expand

"The Islamic mortgage market is set to grow by 47% a year and could be worth £1.4bn by 2009, market research group Datamonitor has said. There is a growing demand from the UK's 1.8 million Muslims for mortgages that comply with Sharia law. The law forbids interest payments;"

While Islamic banking is growing rapidly in the UK, there does not appear to be much supply of Islmanic Banking in the US. Watch for it to start.

A few links:
Harvard's Islamic Project
My notes for International Finance on Islamic Finance (surprisingly they came up #6 on Google :) )

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