PPP KINGDOM

PPP KINGDOM

ENGLAND IS GROUND-ZERO IN EUROPE FOR SHARIAH BANKING

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The Islamic finance industry is valued at $1.14 trillion and growing at a rate of 10% a year, according to the Global Islamic Finance Report 2011. Britain has emerged as ground zero for Islamic banking in Europe, and London as the main centre for Islamic finance outside the Muslim world.

With $19 billion in reported Islamic banking assets, Britain’s Islamic finance sector ranks number one in Europe, and number nine in the world; it dwarfs those sectors of some states where Islam is the main religion, including Pakistan, Bangladesh, Turkey and Egypt, according to a new report titled “The City UK Islamic Finance 2011.”

More than 20 banks in Britain offer Islamic finance products; and there are five British Islamic banks. Islamic funds managed in Britain have combined assets of $300 million. In addition, there are 55 colleges and professional institutions offering education in Islamic finance in Britain – more than anywhere else in the world.

http://www.darulihsan.com/index.php?option=com_content&view=article&id=3975:growth-of-shariah-compliant-banking-in-europe&catid=55:news&Itemid=175

Best Regards,

FINANCIAL WARRIOR

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