» Tokyo operates an Islamic window in the Middle East, the Central Banks opens the doors for Islamic Banks

The Bank of Tokyo-Mitsubishi has received permission to operate an Islamic transactions window in Dubai. This is the first time that a
Japanese bank has been authorized to do so in the Middle East. This demonstrates the growing Japanese interest in Islamic banking.

In a positive plan for Islamic banks in Jordan, The Central Bank of Jordan has decided to enable Islamic banks to take advantage of the
medium-term granted advances program, which provides a financing source with an appropriate cost to interested parties in order to obtain
financing commensurate with the principles of Islamic law.
The central bank issued a statement saying that this decision is in line with the increased demand for products and alternatives offered by
Islamic banks.
It should be noted that one of the obstacles facing Islamic finance, is their inability to face liquidity deficit because of the inability to borrow
at interest from traditional banks. Islamic finance experts advised of the need to help Islamic banks through the central banks in Muslim
countries in the face of liquidity deficit. This initiative, taken by The Central Bank of Jordan, is a bold forward in this field.

On Tuesday July 21, The Kuwait Turkish bank (Kuwait Turk), the first Islamic bank, announced the opening of a branch in Frankfort, Germany.
This will be the first bank providing integrated banking services in accordance with the provisions of Islamic Sharia in the Euro zone. The bank
aims to serve between four and five million Muslims residing in Germany, it also aims to attract non-Muslim clients. The bank expects a
potential request from non-Muslims for Islamic finance to escape from traditional banks and financial crises.