July 06, 2009

The UK government remains committed to Islamic finance and will continue to work with other authorities and with industry to establish and maintain the UK as a global gateway to Islamic finance, said Sarah McCarthy-Fry, exchequer secretary to the UK Treasury in London last week.McCarthy-Fry, who is the minister responsible for leading Islamic finance policy at the UK Treasury, was giving the keynote address at the inaugural session of the 2009 London Sukuk Summit held on July 2-3.

"In these difficult times for international financial markets," she added, "new opportunities for growth and development become increasingly important. The Islamic finance market presents huge long-term opportunities for London and for the UK. Islamic finance is an opportunity that we want to see realized for the benefit of Britain as a whole -- strengthening London's position -- not just as one of the world's leading financial centers -- but as the world center."