The UK is the leading Western centre for Islamic finance. It has been at the forefront of key developments in Europe as illustrated by the findings of this report. The number of institutions based in London and across the country that offer Islamic finance services is nearly double the number located in the US and far ahead of other Western countries. Over twenty banks, of which five are fully Sharia compliant, are licensed in the UK. The London Stock Exchange (LSE) is a key global venue for the issuance of sukuk.
Banks, sukuk issuance and exchange traded products are complemented by world leading professional services support for Islamic finance deals and transactions. Services in the UK are offered by financial intermediaries, asset managers, insurance
providers and over 30 international law, accountancy, and consultancy firms.
There is a growing global demand for skills as Islamic finance expands. UK institutions are at the forefront of providing academic and professional qualifications for the global industry. The UK is the leading centre of Islamic finance education and training with four professional institutions and nearly 70 universities and business schools offering Islamic finance courses and degrees.