LONDON, May 1, 2019 /PRNewswire/ -- Islamic finance is reinforcing the UK's position as a global financial hub, says Amir Firdaus, CFO of the UK's oldest and largest Islamic bank, Al Rayan Bank.
Hailed as the global leader for currency trading, Fintech and more, the City of London is also reputed as the pivotal centre for Islamic finance outside of the Muslim world. Assets of UK based institutions that offer Islamic finance services total more than $5bn, placing the UK in a position that can be leveraged in a time of political and economic uncertainty.
Over 20 banks in the UK offer Islamic services, five of these banks are fully Sharia compliant, including Al Rayan Bank. Al Rayan Bank currently provides Islamic financial products to over 85,000 customers in the UK, and is the largest provider of Islamic home finance in the country. Last year, Al Rayan Bank was the first bank to issue a public Sterling Sukuk (Islamic bond) in a non–Muslim country, taking enormous strides in connecting Muslim communities globally.
To learn more about the influence of Islamic finance, read the full article.
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