Germany’s first Islamic Bank, a unit of Kuveyt Turk Bank of Turkey, is set to open by March of 2010, in the city of Mannheim. According to statistics from the Berlin government, there are approximately 4 million Muslims in Germany. Germany’s biggest bank, Deutsche Bank, operates an Islamic investment arm, DWS Noor Islamic Funds, in the Middle East and North Africa. One German state, Saxony Anhalt, has raised 100 million euros ($140 million dollars) internationally via Sukuk (Islamic bonds).

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