UK - Flying out for the summer

Cooling Islamic markets in Europe have spurred banks to send staff off to sunnier climes in the Middle East, according to the UK’s Islamic Finance Council.
In a bid to capture growth, UK Islamic banks are expected to follow the lead of European Islamic Investment Bank (EIIB), which recently shifted key personnel to Bahrain.
Islamic Finance Council board member, Omar Shaikh, said: “I wouldn’t be surprised if others do something similar to EIIB and formalize some of their operations in the GCC . The current arrangements are no longer fit for purpose.” (source)

UK - The Scottish Government is looking again at using Islamic finance to bankroll major infrastructure projects

The Islamic Finance Council, a UK-wide body based in Glasgow, says it held talks with Scottish Enterprise and Scottish Development International on December 10, describing it as “a joint round table with the IFC exploring opportunities for renewable energy sector investments using Islamic finance”.

Meanwhile, leading financial lawyer Graham Burnside, a member of the IFC, has said Islamic bonds could be used fund major projects including the £2.3 billion Forth road crossing.