Hungary hungry for IF

By Emmy Abdul Alim

Hungary’s first Islamic bank is on its way, says Istvan Kaknics-Ujhelyi, director of Hungary’s Al-Gharnati Foundation and advisor to the mayor of the northern city of Eger. Hosszu Ferenc Ali Hasszan, a Hungarian currently undergoing Islamic banking training in Malaysia, told The Islamic Globe that Hungary is working towards opening its first fully functional Shari’ah compliant bank, called Magyar Iszlam Bank in the coming years.

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But we cannot do it alone,” said Hasszan and called for assistance from transnational bodies, such as the Islamic Development Bank as well as established commercial Islamic banks.

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