Islamic finance: an exclusive partnership between 570 easi and Al Kanz

Islamic finance has been for many years a very French reality. Since 2005, the AIDIMM Association (association d’innovation pour le développement économique et immobilier – or association of innovation for economic and real estate development) promotes it by multiplying seminars, popularization, training, but also by raising awareness among decision makers, be they political or economic ones.

Through the years, under the leadership of Christine Lagarde, then the Minister of Finance, major developments have enabled the adaptation of the French legal and fiscal framework. Islamic finance in France then became a reality, at least in the texts. In fact, skepticism among financial institutions and the weak mobilization of the Muslim community have hindered its development.

Islamic finance, a major asset for the French economy

Islamic finance, because it is constitutive of Muslim ethics in economic transactions, is neither a chimera nor a utopia. However, it can only grow if the Muslim community is mobilized and explicitly expresses its interest for it and its needs.

Thus, Al-Kanz and 570easi decided to forge a partnership to show and demonstrate that, here in France, Islamic finance is not only possible, but beneficial as well: Muslims and non-Muslim entrepreneurs, individuals, financial institutions, along with an entire section of the real estate industry and more generally the French economy as a whole will benefit from the positive effects of this type of finance on society.

To convince about the benefits of Islamic finance, that is the task that 570easi and Al-Kanz will tackle in-sha’a Llah through their partnership.

Pedagogy and community mobilization

Real estate finance, corporate finance, crowdfunding, financial engineering, savings or insurance, 570easi’s expertise in traditional finance as well as in Islamic finance is well established. Knowledge of the Internet, Web Strategy, virtual communities, social networks, entrepreneurship and e-commerce are all areas invested by Al-Kanz for several years. These are all of the skills that will be put to good use in this new partnership.

Two main topics will be addressed:

– Finance: real estate financing, savings, insurance, commerce, zakat, inheritance, etc., all topics that will be discussed sometimes from the strictly religious angle (e.g., car insurance, is it halal?), sometimes from the practical angle (examples: how to get rid of bank interest halal? how does an Islamic mortgage work?). The aim is to provide to each and everyone with the keys to understanding all these issues so that they become accessible to all.

– Crowdfunding: discover crowdfunding in all its dimensions through various case studies and initiatives, driven by the Easi UP platform.

Beyond their educational vocation, upcoming articles, the publication (which should come on a weekly basis), will highlight the levers of collective action which, by Allah’s grace, open the doors for the good of the community.