Just in time for the victory by socialists, facilitated at least partially by Islamist backing, Shariah-Compliant Finance has entered the real estate market in France…
La Française AM has launched the first Sharia compliant OPCI – collective real estate vehicles with simplified investment rules with leverage – into the French market as part of the financing of an office building jointly owned by a Kuwaiti bank.
The leveraging of the deal was partly done by way of a Murabaha, a Sharia compliant loan structured to avoid interest payments.
La Française AM has been working with the Kuwaiti bank since 2010 to focus on Sharia compliant property projects in France. The bank wants to remain anonymous, La Française AM said, but it has selected France as a key part of its global investment allocation.
Can anyone say ‘COMPLETE LACK OF TRANSPARENCY???’