Shariah Finance Korea
Shariah Finance in Korea: An Emerging Niche
Shariah-compliant finance, adhering to Islamic principles that prohibit interest (riba), gambling (maisir), and excessive uncertainty (gharar), remains a relatively small but potentially growing sector in South Korea. While not a predominantly Muslim country, Korea has a burgeoning interest in diversifying its financial landscape and attracting investment from the Middle East and other Muslim-majority nations. This interest has fueled initial steps toward accommodating Shariah-compliant financial practices.