Islamic Finance is Building up in UK amid Downturn
Islamic Finance news
February 2009
While some Islamic financial institutions in the Middle East are under pressure due to the credit crunch, those in the UK are growing, recording an increasing number of customers as non-Muslims begin to view Islamic finance as a viable alternative.
“Business is very much unity and is building up. The corporate, wholesale and retail markets are optimistic about the future of Islamic finance in the UK. European Islamic Investment Bank is moving into private equity while European Finance House has been receiving strong support and been active in the real estate market. BLME (Bank of London and Middle East) has been successful in building assets and developing corporates and asset-based businesses,” said Gatehouse Bank chairman Richard Thomas.
