Yorkshire Being The Prototype of Islamic Banking in the UK

Tuesday, May 8, 2012 0 Comment
Director of Accounting and Accountability Research Centre Bussiness School Hull University, UK, Professor Ross Hanifa, said the Yorkshire, England should be a leader in the development of Islamic banking in the UK. Muslim community is pretty much a work in northern England. This leads to the potential development of the Islamic industry is quite large.

"This is an important part of the Yorkshire as a region with a large Muslim community," he said, as quoted by the official website of Hull University.

He is the current number of players menyaayangkan Islamic banking is still very small in Yorkshire. Though the last few years the British government has given impetus to the development of Islamic banking in the country with the kingdom.

Balance of financial services contribute to economic growth in Yorkshire. This, said Hanifa, it should be an opportunity for the region in the north of England.

Not only the growth of banking, but also a fringe organization and the financial Adviser involved in the campaign finance and Islamic banking in general.

"Yorkshire could be an area which was first spawned halal products such as food and pharmaceuticals to Europe," said Hanifa.

Difficulties Islamic developments in Europe as in all other parts of the world, namely the lack of understanding of the industry is assumed to originate from the Middle East. Many think he should become a Muslim to engage in Islamic finance and the system is considered unsuitable for the modern era.

This, said Hanifa, is a misunderstanding that should be corrected by Islamic institutions. Islamic finance instead of an outdated system, but it offers something new for the community. "The system is free eksploitiasi usury," he stated.