Islamic Finance conference at the Hilton Hotel, Leicester, 20 September
The speakers included Howard Davies who is the Chairman at the Financial
Services Authority, the regulatory organisation that guides, supervises
and regulates the banking and financial industry in the UK.
Notable points were that the potential market for Islamic financial
products in the UK was recognised to be very large. With regards to
Islamic mortgages in particular, it was acknowledged that the main problem
today is that stamp duty will sometimes be paid twice.
It is encouraging that the authorities are now taking an active interest
in the needs of the UK's Muslim community and are working to make it easier
for more Shari'ah compliant financial products to become available.
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