With potentials preceding other European rivals and friendly government policies, the British capital of London is positioning itself as a premier international hub for the booming Islamic finance industry. « If you want to talk to anyone about Islamic finance, and you’re not in the Middle East or Far East, you come to London, » Humphrey Percy, head of Bank of London and the Middle East, told the Financial Times.
Over the past few years, London has established a hub status in the field of Islamic finance. An increasing number of London banks are now offering Islamic banking services to borrowers and savers. There are four licensed wholesale Islamic banks – the only ones in the European Union.