Mohammed Majid Paracha

The Middle East continues to be a powerhouse in the Islamic finance industry, commanding a significant share of global Sharia-compliant assets. The region is estimated to hold approximately 77.4% of total Sharia-compliant assets, with Iran and Saudi Arabia being the largest markets, each holding over $400 billion in assets.

As we look towards 2025, the UK's Islamic finance sector stands as a testament to the growing demand for ethical financial products and the pivotal role of regulatory support in fostering this growth. Historically, the development of Islamic banking in the UK has been marked by steady progress. The establishment of the first Islamic bank in the country laid the foundation for what has become a thriving sector.

Cricket players will tell you that whether a pitch is easy to bat on is not dictated by how much the balls bounce or turn, but rather, whether they do so consistently. A similar level of consistency should be expected in the home financing market. Whether a customer borrows a loan and grants a mortgage to the financier or the customer sells their home to the financier and buys it back in instalments they both seek to achieve the same ultimate goal – home ownership.