The Bank of England’s recently launched alternative liquidity facility (ALF) is slated to drive growth in the sector in 2022 (Shutterstock).

Islamic Finance

Outlook 2022: UK Islamic finance sector navigates COVID-19 and the post-Brexit era


UK Islamic finance sector makes progress during pandemic but needs continuing development, say stakeholders.

 

London: After two years of the COVID-19 pandemic and in a post Brexit era, Islamic finance is set to play a greater role in the country’s economic recovery and future, but practitioners say that more development is needed to realise the potential.

Bashar Al Natoor, the Global Head of Islamic finance at Fitch Ratings, said that the UK Islamic finance industry has growth potential.

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