Abstract
Nowadays, the Islamic Banking System is not only limited to Islamic countries, but has also increased in popularity in Western countries, especially in the United Kingdom and in the United States of America (cf. Schuster 2013, p. 3). Those countries have not only perceived the increasing trend, but also realized the potential of Islamic Banking and became one of the hotspots of Islamic Banking in the Western world (cf. Schuster 2013, p. 4; Karl 2012, p. 1 f.; Wentler 2012, p. 5; Geilfus 2009, p. 1 f.).
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