Market Size of UK Islamic Finance Industry
| Study Period | 2019 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2019 - 2020 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
UK Islamic Finance Market Analysis
The pandemic has provided another opportunity for Islamic finance to prove its potential and shine. The Islamic financial system is based on the principles of risk-sharing, ethics and morality, which equip it to act as a potential warrior to safeguard the interest of the poor and vulnerable under crisis.
Islamic Finance has developed rapidly in the United Kingdom during the past decade (2011- 2021) and the government has been very supportive of its development and promotion. The United Kingdom hosted the first stand alone Islamic financial Institution in European Union and has the highest value of Shariah-Compliant assets of any non-muslim country.
The success of the government's initiative to develop Islamic finance in the UK was shown in 2021 when the government issued its second sovereign sukuk of £500 million, which was sold to institutional investors in the UK, the Middle East and Asia.
Islamic finance will continue to expand in the next decade across regions and asset classes. From a market of just $200bn in 2003, the Islamic Finance sector is expected to grow to over $4trillion in assets by 2030.
