In Britain, Islamic finance has emerged as the largest financial center based on Islamic sharia in Europe.
In England, Islamic financing is an integral part of English financial life. The number of customers using halal banking products is estimated at a quarter of a million. A large proportion of clients using Halal finance in the UK is non-Muslim.
In the United Kingdom, halal finance has convinced more than 25 UK banks to apply the principles of sharia law.
The reasons for the success of Islamic finance in this country are mainly due to the presence of a large Muslim community, but mainly due to the size of Arab investments in capital, London. Many London real estate projects could only see the light of day thanks to Islamic finance, including London's tallest building, the Shard.
Over 25 Islamic banks in the United Kingdom offer halal finance services with total assets of 4.5 billion (2016).
The City of London is consolidating its position as Western leader in Islamic finance, a market of no less than $ 2 trillion in the world with twice as much as in The United States has ten Islamic banks and more than in Switzerland, Australia and France.
Based on the principles of sharia, Islamic finance forbids, for example, interest rates, speculation and investments in sectors such as alcohol.
Islamic mortgages are available from a number of banks in the UK. Few banks offer an Islamic mortgage service, in addition to small specialist banks. This limited number of Islamic mortgage lender is due to the restrictions made by the FSA as well as the few staff with appropriate qualifications on Islamic mortgage.
In terms of competition, Islamic mortgages pricing is often higher due a reduced competition and availability.
UNITED KINGDOM'S ISLAMIC MORTGAGE LENDERS
UNITED KINGDOM U.K ONLINE SHARIA BANK