Factors of development of islamic financial institutions in modern conditions

Nowadays, Islamic investment funds and types of Islamic finance are spreading at a rapid pace around the world. It should be especially noted that even Western countries, where the vast majority of the population do not profess the Islamic religion, willingly switch to the Islamic financial system. Of course, the main factor in this trend is the fairness and minimum risk in the Islamic financial system, as well as the absence of interest-bearing loans. What is attractive not only for entrepreneurs, but also for ordinary citizens. The question arises: “What factors contribute to such a rapid spread of Islamic finance?”.

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