“Italy can be an important interlocutor for Islamic finance” #ItalyFinance

Italy can be a very important interlocutor for Islamic finance. The Deputy Minister of Economy and Finance said this, Maurice Leo, spoke at the conference “Finance beyond borders – Islamic finance: a strategic opportunity to attract investments”, organized in Montecitorio by Banca Ubae. “In the European context, Italy is the third economy, the second manufacturing, and the fourth exporter in the world – he recalled -. It represents a very fertile ground for investors. Italian companies have a pronounced industrial vocation but also a very significant context of SMEs. The objective – the vice minister highlighted – is to create a synergy between supply and demand and this is what the country system can offer”.

“To comply with ethical principles, Islamic finance has developed alternative solutions to traditional finance instruments that include interest as a form of remuneration of capital,” continued Leo, who concluded by explaining how “the creation in Italy of a condition of parity between Islamic and traditional finance could allow the development of a financial system whose overall value – at a global level – is 4,5 trillion dollars, with an estimated annual growth rate of 10-15 percent.”

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