Towards a Plural Financial System
Studies in Islamic Finance, Accounting and Governance series
Edited by Valentino Cattelan
Chapter 8: Migrant banking in Europe: approaches, meanings and perspectives
Over the last two decades, apparently everybody has been convinced that ‘the world is no longer the same’. At least, this is what we continuously hear in media, political, social and market discourses. As arguable, this epochal transformation is not usually welcomed as an improvement of our personal and collective wellbeing. By challenging established equilibria, changes are often perceived as threats to our reference points and may activate psychological and social conflicts. As such, the rhetoric of nostalgia has spread quite easily (Brown and Sherry, 2003) and given the supporters of continuity additional argumentations to contrast the agents of this upturn. We think that the world has always been changing, and our era makes no exception. For sure, contemporary society experiences a speed in changes and a spectacularization of them that were hardly imaginable in pre-modern and modern times (Brown, 1995). Among others, the impact of new technologies and the ‘global diasporas’ (Cohen, 1997) have rapidly multiplied the opportunity to live in more countries, meet more people and acquire more information. In short, the world has become a smaller place.
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