Future ‘extremely bright’ for UK’s Islamic finance economy

Future ‘extremely bright’ for UK’s Islamic finance economy

London's unique position as a finance and technology hub has it perfectly placed to capitalize on a domestic and global boom in demand for Islamic finance

UK's Islamic finance economy and customers will benefit greatly from London's dominance in the world of fintech

London is perfectly placed to continue its rise as a global centre for Islamic finance in the coming decade, and the dual challenges posed by Brexit and the coronavirus (COVID-19) pandemic are unlikely to derail that ascension, according to experts and industry insiders.

It has been a hard year for the global financial markets. The pandemic's emergence saw 30 percent of global equity wiped out in a matter of weeks in March, and the recovery since then has been marred by intermittent shocks and an atmosphere of deep uncertainty. The world of Islamic finance was no exception to this hardship.

According to Salaam Gateway's annual State of the Global Islamic Economy report,