IslamicFinance.de

London has set its sights on becoming the world centre for the Islamic finance industry according to the UK's foreign office minister for Middle East, Tobias Ellwood. Britain was also committed to promoting a "peaceful and prosperous" Middle East and expanding trade ties with the region, which topped £35bn last year, said Mr Ellwood. Mr Ellwood also celebrated notable sharia-compliant investments that have been used to fund some of the capital’s largest developments, including The Shard and the Olympic Village. The sovereign Sukuk market, which makes up only 0.1pc of global financial assets, is predicted to expand by 20pc a year.