Islamic Finance

Record Year for UK’s Islamic Finance

The UK’s Islamic finance sector continued to grow in 2018 despite the economic uncertainty posed by the lack of a trade deal with the European Union in the aftermath of Brexit vote. The country witnessed its largest ever corporate Sukuk issuance and the launch of several new initiatives such as the Islamic Fintech Panel and […]

The UK’s Islamic Mortgage market to heat up

Islamic home-buyers in the UK are set to have more options as the Islamic mortgage market becomes more competitive with Gatehouse Bank announcing new home purchase financing plans on the heels of a record GBP100 million (US$130.53 million) in lending completed last year. To support its growth plans, Gatehouse also announced expansion of its underwriting […]

UK Islamic fintech in the spotlight

Islamic fintech in the UK was in the spotlight with several key funding announcements from MoneeMint and Wahed invest over the past month as well as the hosting of the UK-Turkey Islamic Fintech Forum by the British Consulate-General in Istanbul. Start-up Moneemint, which aims to become “the UK and Europe’s first completely digital ethical bank” […]

New liquidity facility for UK’s Islamic Finance sector

The Bank of England’s (BoE) Deputy Governor Dave Ramsden announced plans for the launch of a Shariah compliant facility to support UK’s Islamic finance sector under a new BoE subsidiary named the ‘Alternative Liquidity Facility’ established specifically for this purpose. The facility will offer non-interest-based source of liquidity and will be the first such facility […]

London hosts industry leaders, Yielders closes funding round

Over four hundred Islamic finance professionals including distinguished guests and global leaders from government, banking and professional services converged to the Mansion House in London on September 5th for the IFN’s UK Islamic Finance week. With subsequent real estate and financial technology events held to provide in depth discussion and insights on these key segments […]

ADIB UK Finances US$51.23 million hotel acquisition

Earlier this month, Abu Dhabi Islamic Bank (ADIB) UK, a wholly-owned subsidiary of Abu Dhabi Islamic Bank, closed a commercial financing transaction for the acquisition of a Travelodge Hotel located at London’s Heathrow Airport. The property was acquired by a Saudi-based client for GBP40.3 million (US$51.23 million), with ADIB providing GBP26 million (US$33.05 million) of […]