Islamic Finance Sectoral Advisory Group

TheCityUK’s Islamic finance Sector Advisory Group (SAG) works to cement London as the western hub for Islamic Finance.

We meet quarterly, and additionally as required, to discuss developments in Islamic finance in the UK-based and global financial markets. We regularly engage with government and visiting delegations. We support overseas visits by the Prime Minister, government ministers and the Lord Mayor of the City of London by providing briefings when Islamic finance is on the agenda.

Our group members are drawn from our wider membership including; conventional and Islamic banks, financial intermediaries, law firms, accountants, consultancies, exchanges, ETQ providers and rating agencies.

Priorities of the Islamic Finance Group

- Provide thought leadership on the direction of policy and activity relating to members’ interests in Islamic finance.
- Engage with the UK government to promote and develop the sector as part of its trade and industry activities.
- Advise the UK government on international and domestic issues relating to the Islamic Finance sector.
- Encourage the use of Islamic finance for inward investment, project finance etc.
- Promote the use of sukuk (Islamic bonds) as an asset class with large funds and investors from the UK and overseas.
- Develop and extend relations with the UK and international decision-makers, regulators and economic and business stakeholders.

Recent activities

- Advising the Bank of England on developing its facility for the UK’s Islamic Banks.
- Advising the UK government on attracting Islamic investment and sukuk corporate bonds to meet infrastructure and funding requirements.
- Engaging with the UK and international authorities on the burden of imposed regulatory reform on Islamic finance institutions.
- Advising HM Treasury, the Foreign and Commonwealth Office and the Department for International Trade on the agenda for the Global Islamic Finance and Investment Group meeting in London.
- Meetings with Regulators, Central Banks and Exchanges from Pakistan, Kazakhstan, Brunei and Turkey to discuss issues of mutual interest and business development.

For more information about the work of the Islamic Finance Sectoral Advisory Group please contact us.