As part of Societe Generale's series of Meet the Experts presentations, Philippe Dufay and Mohamed Virani discuss Islamic finance.
A fundamental tenet of Islamic finance is that money cannot produce money, it is merely considered as a medium of exchange and, hence, interest is prohibited. On the other hand, investing in the real tangible economy is considered an essential element of structuring Islamic financial transactions. Within the evolution of the industry, the most noteworthy phenomenon recently has been the emergence of Islamic institutional investors who, by their charter, are required to invest in a sharia-compliant manner. Our Islamic products address the requirements within sharia for risk management, and our early recognition of this market has placed us among the leading global providers of Islamic products.
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