The retirement and employee savings market in France

Islamic finance, a sector that emerged in the late 1950s, adheres to Sharia law, which prohibits interest and the financing of illicit industries. It has been expanding at an annual rate of 10-12% since 2010. In 2020, the Islamic finance sector reached assets worth 3633 billion euros. The market remains concentrated in Muslim-majority countries in the Middle East and Southeast Asia. Islamic finance has established a foothold in Europe, notably in the UK with 5 licensed Islamic banks, and in other countries such as Luxembourg and Germany, which issue sukuks and host Islamic finance funds. France has untapped potential due to the size of its Muslim population (8.8% in 2017, expected to reach 12.7% by 2050). France's development in this sector faces obstacles linked to the public's apprehension of Islam and limited understanding of the principles of Islamic finance. There is a certain reticence about financial products described as "Islamic". The structure of Islamic finance differs from

Regulations have evolved, with new mortgage reforms capping loan terms at 25 years and affordability ratios at 35%, and the incorporation of surety bond laws into the civil code to enhance consumer protection. The global market for financial guarantees is estimated at 17.3 billion euros. The surety market in France is growing steadily. The market for personal loans is booming. Over 95% of surety company commitments concern performance bonds for individuals. In the personal loan sector, sums guaranteed by surety companies climbed to 765 billion euros in 2020. Outstanding mortgage loans to individuals will total 1,137 billion euros in 2020. The rate at which individuals use surety bonds for mortgage loans is rising steadily, reaching around 63.4% in 2020, compared with 54.3% six years earlier. The size of the surety market has been estimated at around 1.6 billion euros in 2020. The main market players are Crédit Agricole with 34.7% of outstanding mortgages, Groupe BPCE with 27.5% and Con

The French consumer credit market has been confronted with rising interest rates, leading to a stabilization of outstanding consumer credit at 210 billion euros in September 2023. Consumer credit market trends The consumer credit market in France is influenced by several factors, such as changes in purchasing power, interest rates and the digital evolution of financial services. Total consumer loans reached 210 billion in September 2023. However, the rise in interest rates in 2023 led to a sharp drop in growth rates for consumer credit production. The automotive sector has largely contributed to this slowdown, with car registrations expected to fall by between 10% and 14% by 2022. On the digital front, the market is undergoing accelerated digitization, as evidenced by the success of players such as Younited Credit. Amortizable loans account for some 65% to 75% of outstanding loans. Leasing has fallen by 5-6%. The profile of borrowers is diverse: 30-35% have a comfortable standard of li