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Businesses discuss Islamic finance at number 11
17/04/2007
Economic secretary Ed Balls has met with a group of commercial experts to discuss future strategies regarding Islamic finance.
The Treasury representative received feedback from the delegation of business leaders on government proposals to create a more balanced retail market, which could provide alternative financial products to enterprises in the UK's Muslim communities.
Also discussed at the summit held at number 11 Downing Street were potential future collaborative projects between the Treasury and local businesses which could enhance the British economy's Islamic finance offerings.
"Through creating a level playing field for Islamic finance products, we are also able to increase choice of … financial products for Muslims and non-Muslims in the UK," commented Mr Balls.
He added that the UK is positioned at the "forefront" of the Islamic finance industry and the Treasury is looking to capitalise on this by taking every opportunity to support fresh innovations in the field.
The Treasury representative received feedback from the delegation of business leaders on government proposals to create a more balanced retail market, which could provide alternative financial products to enterprises in the UK's Muslim communities.
Also discussed at the summit held at number 11 Downing Street were potential future collaborative projects between the Treasury and local businesses which could enhance the British economy's Islamic finance offerings.
"Through creating a level playing field for Islamic finance products, we are also able to increase choice of … financial products for Muslims and non-Muslims in the UK," commented Mr Balls.
He added that the UK is positioned at the "forefront" of the Islamic finance industry and the Treasury is looking to capitalise on this by taking every opportunity to support fresh innovations in the field.