Kuwait Finance House says that it will launch Shari’ah compliant banking in Germany from July. It is estimated that around 5 per cent of the population, or 5.5m people, is Muslim in Germany. The bank hopes to leverage its presence in the country through Kuveyt Turk, which has a branch in Manheim. The new bank will be called KT Bank AG, will be a wholly owned Kuveyt Turk subsidiary and will be headquartered in Frankfurt. Back in 2004 the German state of Saxony-Anhalt launched Europe’s debut Sukuk and interest in Islamic finance and banking has grown since then.