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In recent years, Islamic business has grown in size and importance in the world financial markets, propelled by government and private wealth in Muslim countries. The UK has fashioned itself as a leading supporter of Islamic finance, evinced in its position as an “emerging global ‘hub’ for Islamic finance” (Islamic Finance in the UK: Regulation and Challenges (Financial Services Authority, 2007)
This work examines how laws and regulations in the UK and abroad are applied to Shari’a products and services. It offers cutting-edge guidance from a leading practitioner: it includes explanation of terms and definitions and looks the legal nature of the Shari’a, in addition to a crucial review of how Islamic financial business is regulated and its practical application within the UK.
The report also covers the following key areas: