IEA News
The Forum on Islamic Banking and Finance was successfully convened on August 23, 2025 at the London Central Mosque Trust Ltd, bringing together an influential gathering of policymakers, regulators, Shariah scholars, financiers and industry leaders. Organized by AlHuda CIBE in collaboration with the Islamic Cultural Centre, UK, sponsored by Royal Bullion Capital (RBC), UAE and the event provided a dynamic platform to explore the evolving landscape of Islamic finance in the UK, Europe, and beyond, while also spotlighting the sector’s global growth trajectory.
The forum commenced with a recitation of the Holy Qur’an by Sheikh Dr. Faid Said, followed by welcome remarks from Mr. Muhammad Zubair, CEO of AlHuda CIBE, UAE, and Dr. Ahmad Al-Dubayan, Director General of London Central Mosque & ICC, UK. Distinguished guests of honor, including H.E. Haseeb bin Aziz, Deputy High Commissioner of Pakistan to the UK, H.E. Abdennour Gougam, Counsellor for Economic Affairs at the Embassy of Algeria in the UK, and eminent scholar Mufti Abdul Kadir Barkatulla, underscored the importance of Islamic banking in fostering inclusive finance and promoting ethical economic systems.
The conclave was marked by strong endorsements from key figures. H.E. Haseeb bin Aziz, Deputy High Commissioner of Pakistan to the UK, stated, “This forum is an excellent initiative and a significant event for the City of London. It is heartening to see the robust growth of Islamic finance mirrored here in the UK, a trend we are also witnessing profoundly in Pakistan. The Islamic finance industry in Pakistan is experiencing exceptional growth across all sectors, including full-fledged Islamic banking, Islamic microfinance, Sukuk issuances, Takaful, and the rapidly evolving Islamic FinTech landscape. Forums like these are crucial for sharing knowledge and fostering cross-border partnerships.”
Dr. Ahmad Al-Dubayan, Director General of London Central Mosque & ICC, UK, commented on the event's success, saying, “The London Central Mosque & Islamic Cultural Centre is proud to have hosted this significant gathering. The successful organization of this forum underscores our shared commitment to the development of ethical and Shariah-compliant finance. Our institution is deeply committed to supporting the growth of Islamic banking and finance within the UK and will continue to pursue this strategy in the future, providing a platform for dialogue and development.”
Echoing the sentiment on the sector's relevance, Mufti Abdul Kadir Barkatulla noted, “Islamic finance is not just a niche alternative; it is a growing necessity for modern society. Its principles of risk-sharing, avoidance of exploitation, and linking finance to real assets offer immense benefits to both Muslims and non-Muslims alike. London, with its unique position as a global financial capital, is perfectly poised to lead the adoption and innovation of Islamic finance in the Western world.
Mr. Muhammad Zubair, CEO of AlHuda CIBE, provided insights into the organization's mission, stating, “For the past 20 years, AlHuda CIBE has been unwavering in its commitment to the development and promotion of Islamic banking and finance globally. We have worked dedicatedly in over 60 countries to raise awareness, build capacity, and provide expert guidance. While we operate as an advisory and consultancy organization, our core mission has always been philanthropic—dedicated to the holistic growth and professionalization of the Islamic finance industry. This forum in London is a testament to that enduring commitment.
The forum’s technical sessions highlighted the changing contours of Islamic banking in the UK and Europe, the role of interfaith dialogue through ethical finance, and the contribution of microfinance in advancing financial inclusion. A special session examined the significance of gold investment within Islamic financial structures, while a high-level panel discussion on the future of Islamic finance featured prominent voices from institutions such as Mayer Brown, Kestrl, Nester, Al Baraka Bank UK, and leading UK academics. The event concluded with a certificate distribution ceremony, recognizing partners and contributors who are advancing the Islamic finance agenda in Western markets.
The UK has emerged as the principal hub for Islamic finance outside the Muslim world, with London consistently ranked as a global center for sukuk, Islamic funds, and Shariah-compliant banking. By the end of 2021, the UK’s Islamic banking assets reached approximately USD 7.5 billion, accounting for nearly 85 percent of Europe’s total Islamic banking assets (excluding Turkey). This figure rose to USD 8.2 billion by the close of 2023, reflecting a remarkable 26 percent year-on-year increase. Despite this growth, the sector remains relatively modest in domestic terms, representing just 0.1 percent of the UK’s total banking assets, yet its strategic significance lies in its international connectivity and capital markets presence.
AlHuda Center of Islamic Banking and Economics (CIBE) is a well-recognized name in Islamic banking and finance industry for research and provides state-of-the-art Advisory Consultancy & Education through various well-recognized modes viz. We provide services in Islamic Financial Product Development, Shariah Advisory, Training, Islamic Microfinance, and Takaful Consultancy, complemented by our well-recognized publications in Islamic Banking and Finance.
We are dedicated to serving the community as a unique institution, advisory and capacity building since 2005. The prime goal has always been to remain stick to the commitments providing Services not only in UAE/Pakistan but all over the world. AlHuda has contributed to the growth of Islamic Banking and Finance in over 104 countries. Learn more at: www.alhudacibe.com.
