This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
The global Islamic finance sector is already worth an estimated £1.2 trillion and is expected to climb to £1.6 trillion by 2015. The potential for growth in UK based opportunities is immeasurable. London is already the world’s financial centre and leading western hub for Islamic finance. More than 20 international banks operating in the UK are working in Islamic finance. Islamic finance is increasingly being used in major infrastructure projects and has already helped to transform London’s skyline, with landmarks such as The Shard and the Olympic Village financed in whole or in part by Islamic finance.
Next month, London will host the 9th World Islamic Economic Forum (WIEF), the first time it has been held outside the Muslim world. The event is expected to attract 1500 delegates from 80 markets. The British Business Pavilion at WIEF will focus on British expertise and skills in a range of sectors including health, education, finance and infrastructure and smart cities.
Foreign Office Minister Baroness Warsi will answer your questions on Islamic Finance and the UK live via Twitter on 5 September 11.15 – 11.45 (BST). You can submit questions using the hashtag #askFCO and you can follow the Minister on Twitter @sayeedawarsi.