As Middle Eastern money continues to flood into the UK, the Chancellor has reacted with regulatory reforms to establish the necessary framework to support Shariah-compliant products
In June 2006, Chancellor Gordon Brown announced London will become an Islamic finance centre and regulatory reforms will be established to support the creation of Shariah-compliant products. There can be no doubt as to the motivation - the flow of funds from Muslim countries is estimated to be somewhere in the region of $300bn-$400bn, growing at a rate of 15% annually. With the oil price near its historic all-time high, this global flow of funds seems set to continue for the medium term at least. One area, which has been a focus in Shariah investing, is real estate investments. These have...
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