Sharia is being implemented by Islamic vigilantes in Bradford, Dewsbury and Tower Hamlets, and its creeping in corporate boardrooms in Birmingham. via First choice for finance – Latest News – Media Centre – Business Birmingham.
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 ishome 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.
Birmingham is also home to the first European research centre in Islamic Business and Finance – El Shaarani Research Centre for Islamic Business and Finance (EIBF), part of Aston Business School. Dr Omneya Abdelsalam, Director of the EIBF Centre, said:
Through our El Shaarani Centre, we are continuing to educate the next generation of Islamic economists and business leaders – both nationally and internationally. Our research has enabled us to study how mainstream financial institutions can learn from Islamic finance practices in their recovery and avoidance of the next global economic crisis.” Read the rest on: Creeping Sharia
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