Naz Shah speaks on Islamic Banking and Finance at IFN
The UK should ‘further open the doors to Islamic finance or ethical finance’ to boost economic growth, a Bradford MP told a banking conference.
Naz Shah, the Labour MP for Bradford West, was speaking in her capacity as chair of the APPG on Islamic Banking and Finance.
She presented a keynote address to the 14th IFN UK Forum, the Islamic finance industry’s longest-running and leading European event, at Mansion House under the patronage of the Lord Mayor of London.
In her speech, Ms Shah said:”The UK is the largest Islamic Finance centre outside of the Muslim world.
“From a market of just $200bn in 2003, the Islamic Finance sector is now expected to grow to over $4trillion in assets by 2030.”
She added: “By opening our market to Islamic finance or more ethical forms of banking, it helps the UK open its future to new markets, trade and investment.
“At a time, when our nation is facing a cost-of-living crisis, our country needs more investment, trade, and an economy that provides better growth, I believe by further opening the doors to Islamic finance or ethical finance, we can help us do just that.”
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