Title: The UK's banking system as financial hub for Islamic banking

Authors: Katarzyna Kubiszewska; Rafal Komorowski

Addresses: Faculty of Management and Economics, Department of Economic Analysis and Finance, Gdansk University of Technology, ul. Narutowicza 11/12 80-233, Gdańsk, Poland ' Faculty of Management and Economics, Department of Economic Analysis and Finance, Gdansk University of Technology, ul. Narutowicza 11/12 80-233, Gdańsk, Poland

Abstract: This paper examines the phenomenon of London as "the Islamic banking hub". It contends that London has become not only an international centre for Islamic finance, but also that there is big interest and demand for Islamic banking products. The authors are also positive that Islamic banking may be a certain solution for the problems that Europe has been suffering since 2007 when the global debt crisis started. Our intention is to attract other researchers to this subject, as we believe Islamic finance may play an important role in the future of global financial markets.

Keywords: Islamic banking; financial hub; UK banking system; IFC; international financial centre; religion; behavioural economics; Islamic finance; financial crisis; Sharia; financial markets; London; United Kingdom.

DOI: 10.1504/IJBAF.2014.063209

International Journal of Behavioural Accounting and Finance, 2014 Vol.4 No.3, pp.245 - 258

Received: 29 Nov 2012
Accepted: 29 Jan 2014
Published online: 30 Apr 2015 *

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