The UK is the ‘leading Western centre for Islamic finance’, according to a TheCityUK report, ‘Islamic finance: global trends and the UK market 2022’, published last week.
It found 85% of total European Islamic finance banking assets were UK-based (totalling $7.5bn (£6.25bn) in 2021). The report also highlights the UK’s position as a Western leader in Islamic fintech, and the London Stock Exchange’s position as a global hub for sukuk listings, with 68 sukuks currently listed.
Miles Celic, TheCityUK CEO, said: ‘The UK has been at the forefront of key developments.’
The report can be found here.
