Any discussion on the UK financial services industry inevitably necessitates some commentary on the topic of Brexit. Now that the withdrawal date of the UK from the EU has been extended to October 2019, the post-Brexit landscape for the UK financial services sector is currently unknown.
Nevertheless, Islamic finance is set to play a key role in ensuring that London, as well as the UK, maintains its position as a global centre of international finance in a post-Brexit world. The rapid growth of Islamic finance in recent years in the UK has been led by supportive government policies, an extensive pool of professionals skilled in Islamic finance and an open economy that welcomes international investment. Lingxi Wang, Foot Anstey Senior Associate, writes.
This article was first published in Islamic Finance news Volume 16 issues 29 dated the 24th July 2019.