Islamic finance in Belgium – sizing the retail market was independently commissioned by the Association for the Development of Islamic Finance (ADEFI) in conjunction with IFAAS (Islamic Finance Advisory & Assurance Services).
The report sets out the market opportunities for financial institutions interested in developing an offering for the Belgian consumer market, and analyses Muslim consumers' current consumption of financial products and services and their attitudes towards conventional, interest-based retail finance. It then gauges their predisposition to change from conventional products to Islamic products, such as loans and savings accounts, their price elasticity towards these products and their likely speed of response to the launch of such products.
Interviews were conducted per phone on a weighted sample size of over 500 individuals, reflecting a true picture of the Belgian Muslim consumer market. The target sample was composed of adult men and women, from a variety of socio-economic categories living in Brussels, Flanders and Wallonia.