islamic finance council uk
Glasgow
The Islamic Finance Council UK (UKIFC) is a specialist advisory and development
body focused on promoting and enhancing the global Islamic and ethical finance
industry. The organisation was launched in 2005 by a group of like-minded
professionals who sought to make a contribution to the development of the new
and exciting Islamic finance industry. The founding directors, comprising a
banker, an accountant and a lawyer, recognised that it was not within the
mandate of their current businesses to invest resources into growing this young
and emerging sector. The idea was conceived to establish a not-for-profit
organisation which could provide a formal platform for them and others to
dedicate their time and expertise, on a pro bono basis, to drive the sector
forward. The initial priority of the UKIFC was to support the expansion of the
UK consumer retail market where the existing infrastructure was not considered
adequate for the Muslim minority population. At the global level the
organisation sought to contribute by developing pioneering capacity building
programmes for Shariah scholars and encouraging improvements in regulatory
policy. In 2018, the UKIFC celebrated its 10th anniversary. Click here to
download our souvenir brochure. Since its modest beginnings, the UKIFC has
remained committed to its guiding principle of making a tangible, positive
impact to the sector. The team has advised governments, authored technical
reports, presented at international conferences and developed training
programmes which, collectively, have changed global regulation and played a
leading role in exploring the relationship between Islamic finance and the
broader ethical finance arena.
