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Produits bancaires spéciaux, établissements dédiés, cursus universitaires… La montée en puissance en France de la finance islamique, inspirée des « principes moraux de l’islam »

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À contre-courant de la finance traditionnelle, cette branche peu connue du monde des affaires, dictée par la Charia, affiche chaque année une ronflante croissance à deux chiffres. La finance islamique a fait beaucoup de chemin depuis sa naissance dans les années 1970 dans les pays du Golfe. Cette « façon de gérer l’argent et de faire des affaires qui soit conforme aux principes moraux de l’Islam», comme la définit la Banque d’Angleterre, est longtemps passée sous les radars du grand public. Elle bénéficie pourtant d’aménagements fiscaux dans l’Hexagone depuis 2008. Des avantages instaurés à l’époque par Bercy dans le but d’ «attirer les investisseurs du Proche-Orient» et leurs liquidités pour renflouer les caisses de l’État après la crise des subprimes. En France comme dans le monde, cette branche peu connue du monde des affaires a le vent en poupe et affiche chaque année une insolente croissance.

Une ascension fulgurante telle que la finance islamique surclasse aujourd’hui les cryptomonnaies, dont la montée en puissance ne cesse pourtant d’être soulignée. À ce jour, les estimations tablent sur un total d’actifs compris entre 3100 et 3600 milliards d’euros côté finance islamique mondiale, contre un encours cryptographique de 2300 milliards de dollars. «Cela représente 35 fois le PIB du Maroc… ou encore la dette publique française », compare Anouar Hassoune, professeur de finance islamique.

Fondée sur la loi coranique, la Charia , et les principes moraux régissant la société musulmane, la finance islamique s’étend à pas de loup en France et en Europe, après avoir conquis les pays moyen-orientaux et asiatiques (qui représentent 70% de son encours total). Portée par des institutions internationales comme la Banque Islamique de Développement et des grandes banques conventionnelles mondiales, elle bénéficie de relais sociétaux puissants – en dehors de ceux liés à la communauté musulmane – notamment des universités prestigieuses comme Paris-Dauphine. Laquelle a ouvert en 2009 un executive master spécialement consacré à la finance islamique. Une création reflétant bien le nombre croissant d’acteurs désireux de se lancer dans l’aventure. […]

L’Hexagone demeure encore un marché en construction, au point que le spécialiste déplore l’absence d’une institution unique, capable de proposer toutes les offres à la fois. «Notre pays est l’hôte de la plus grande population musulmane d’Europe, alors pourquoi n’existe-t-il pas de banque islamique française ?» , s’interroge-t-il. La réponse serait selon lui à chercher du côté de l’image de marque. «Aucune des cinq grandes institutions bancaires françaises ne se lance dans des activités de finance islamique directement en France – bien qu’elles le fassent à l’étranger – car cela pourrait potentiellement engendrer une perte de clientèle traditionnelle» , abonde Anouar Hassoune.[…]

Reste à savoir si la finance islamique pourrait un jour dépasser sa consœur conventionnelle. «En l’état actuel, elle ne peut être la finance de demain, mais peut-être celle d’après demain» , admet l’expert.

Le Figaro

A LA UNE

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