Family Solicitors

The UK’s under secretary of state at the Foreign Office, Tobias Ellwood, has told The Telegraph's Middle East Congress that London is bidding to become a leading centre for Sharia law-compliant finance.

Speaking at the conference on Wednesday (25/02/15), Mr Ellwood said that London had ambitions to stand alongside Dubai and Kuala Lumpur “as a global hub for Islamic finance”.

In 2014, the UK became the first country outside Muslim countries to issue an Islamic bond – called a Sukuk – which was worth £200 million. It is reported the £200m bond attracted healthy interest from investors.

Mr Ellwood added that UK was committed to promoting a “peaceful and prosperous” Middle East, as well as expanding Britain’s trade ties with the Middle East, which were worth more than £35 billion in 2014.

“We must promote inclusive political participation and job creation across the region,” Mr Ellwood told delegates at the conference.

“A long-term security strategy must have prosperity at its heart.”

Britain has more companies offering Islamic financial products such as loans than any other western country. The Islamic financial sector in the UK is worth more than £2 trillion. The Sukuk market in the UK is predicted to expand by 20% annually.

Investments compliant with Sharia law – which involves religious rulings –
were used to fund many of London’s largest developments, such as The Shard and the Olympic Village.

Duncan Lewis Family Solicitors – Islamic Family Law

Duncan Lewis is a leading firm of family solicitors and can advise on family law under UK and Islamic law – including ensuring Islamic wills and trusts are compliant with UK law.

Duncan Lewis family solicitors can also advise on child care matters and divorce, judicial separation, child contact and residence and international child abduction.

For expert legal advice on family law and child care matters under UK law and Islamic law, call Duncan Lewis family solicitors on 020 7923 4020.