UK - Birmingham is first choice for Islamic finance’s finest

The current economic climate has led many organisations to review the way they manage their financial operations and raised awareness of alternative methods of finance, such as Islamic finance, which offer a more risk averse approach than traditional Western banking. 

Birmingham holds a long standing reputation as the European hub for Islamic finance - the city is often dubbed as the Silicon Valley for the UK’s Islamic finance industry and holds some impressive credentials in this sector. It is home to the Islamic Bank of Britain (IBB) - the first standalone Sharia compliant retail bank in the UK and Europe. It also hosts a range of professional consultancies offering specialised services to the Islamic finance sector. Many of these organisations, including the Islamic Finance Advisory and Assurance Services (IFAAS), have offices outside of the UK. As a result, Birmingham’s Islamic finance expertise has worldwide reach.(source)

UK - UK’s Aston Business School hosts Islamic finance event - June 16, 2011

Aston Business School’s El Shaarani Research Centre for Islamic Business & Finance (EIBF) to host ‘Islamic finance for Corporate UK’ on 16 June

The event is being held in association with Advantage West Midlands, Marketing Birmingham, IBB (Islamic Bank of Britain) and IFAAS (Islamic Finance Advisory and Assurance Services).  The event will take place at Aston Business School in Birmingham, UK

Islamic finance has been emerging as a viable corporate finance alternative in the UK, highlighted by several, public landmark transactions.  These include the most recent in which a UK Islamic Bank purchased a Rolls Royce manufacturing and logistics facility located in Scotland.  Others include the Qatari financing for Europe’s tallest building, the Shard of Glass and funding for the redevelopment of the Chelsea Barracks.  This deal was valued at £959 million ($1.56 billion) and was the highest value UK land acquisition in history. (source)