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Business Reporter: The UK Can Be a World Leader in Islamic Finance


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Business Reporter

01 May, 2019, 10:10 GMT

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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.

About Business Reporter

Business Reporter is distributed with The Daily Telegraph, The Sunday Telegraph and City AM, each of our publications reaches an average of 1.5 million people.

Content is also published through the Business Reporter and TEISS websites, which includes video debates, online articles, and digital magazines. This content is meant to deliver news and analysis on the issues that are affecting businesses to our global audience. In addition to publications, Business Reporter hosts conferences, breakfasts meetings, and exclusive summits.

These events bring together some of the most influential decision makers and innovators in modern business. These exclusive events for business leaders complement the content and direction of editorial projects, allowing them to have direct contact with their readers.

Above all, Business Reporter's commitment is to make meaningful analysis for every business owner. Whether individuals are running a small business, the head of a local company or an executive in a multinational corporation, there will be something for them at Business Reporter.

https://www.business-reporter.co.uk

Related Links

https://www.business-reporter.co.uk/

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