Sheikh Khalid, UK Minister discuss Islamic banking

March 26, 2014 - 4:10:43 am
Baroness Sayeeda Warsi flanked by Sheikh Dr Khalid bin Thani bin Abdullah Al Thani (left) and Abdulbasit Ahmed Al Shaibei in London yesterday.

DOHA: Baroness Sayeeda Warsi, Senior Minister of State, Foreign and Commonwealth Office and Minister for Faith and Communities, UK, has received Sheikh Dr Khalid bin Thani bin Abdullah Al Thani, Chairman, Ezdan Holding Group and Abdulbasit Ahmed Al Shaibei, CEO, International Islamic, in London yesterday.

Baroness Sayeeda and her political adviser Naveed Khan held discussions with Sheikh Dr Khalid in the presence of Al Shaibei. The discussions covered a wide range of issues related to global Islamic banking and the growing interests of Islamic finance in Europe. They also discussed the development in the global Sukuk market and regulations of Islamic economies, particularly Britain and Europe in general.

During the meeting, the two sides emphasised the need for further strengthening the Islamic finance market. The meeting observed the investors are increasingly relying on the Islamic banking system across the globe. The meeting also noted the important role being played by Qatar in the global Islamic financial sector. The meeting also recalled that Qatar International Islamic Bank (QIIB) was the first Islamic Bank to be established in Britain.

Britain is looking forward for a better cooperation with Islamic banks for the development of Islamic finance at the international level. Qatar and Britain can further strengthen the foundation of the Islamic Finance as Britain has one of the largest Muslim populations in Europe. 

British Prime Minister David Cameron recently announced London is biggest Islamic financial centre outside Islamic countries. 49 percent Islamic Sukuk worth $34bn issued from London Stock Exchange during the last five years. Recently, the prime minister also announced the UK’s plans to issue Islamic bonds.        The Peninsula

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