Islamic finance in the United Kingdom : factors behind its development and growth
Joint Authors
Shashi, Abd al-Qadir
Belouafi, Ahmad Mahdi al-Sharif
Source
Issue
Vol. 22, Issue 1 (31 May. 2014), pp.37-78, 42 p.
Publisher
Islamic Development Bank (IDB) Islamic Research and Training Institute (IRTI)
Publication Date
2014-05-31
Country of Publication
Saudi Arabia
No. of Pages
42
Main Subjects
Financial and Accounting Sciences
Topics
Abstract EN
This paper aims at capturing the latest developments and growth of Islamic finance (IF) in the UK.
The study also aims at shedding light on the driving factors that have been attributed to the rise of this phenomenon in this country.
To meet these objectives, the paper utilizes historical and thematic analytical methodologies to draw some lessons and recommendations.
The results show that the UK is the country number one in the West, in view of the number of institutions and Universities involved in the educational and training aspects relating to IF, the number of licensed intermediaries providing ‘Islamic’ financial services, and the number of law firms involved in legal and consultancy services in the IF field.
Among the prime factors that have been explored to explain the gradual, but steady progress of IF in the country, are : (i)-The UK’s government proactive role, and (ii)-The active role played by a number of UK Muslim organizations.
American Psychological Association (APA)
Belouafi, Ahmad Mahdi al-Sharif& Shashi, Abd al-Qadir. 2014. Islamic finance in the United Kingdom : factors behind its development and growth. Islamic Economic Studies،Vol. 22, no. 1, pp.37-78.
https://search.emarefa.net/detail/BIM-540250
Modern Language Association (MLA)
Belouafi, Ahmad Mahdi al-Sharif& Shashi, Abd al-Qadir. Islamic finance in the United Kingdom : factors behind its development and growth. Islamic Economic Studies Vol. 22, no. 1 (May. 2014), pp.37-78.
https://search.emarefa.net/detail/BIM-540250
American Medical Association (AMA)
Belouafi, Ahmad Mahdi al-Sharif& Shashi, Abd al-Qadir. Islamic finance in the United Kingdom : factors behind its development and growth. Islamic Economic Studies. 2014. Vol. 22, no. 1, pp.37-78.
https://search.emarefa.net/detail/BIM-540250
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 71-78
Record ID
BIM-540250