Today (28 May 2012) Dr Ahmad Mohamed Ali, President of the Islamic Development Bank Group (IDB), is visiting London following discussions with Alderman David Wootton, the Lord Mayor of the City of London, during his recent visit to Jeddah.
In collaboration with Gatehouse Bank, TheCityUK’s UK Islamic Finance Secretariat (UKIFS) has arranged a meeting at The Mansion House to enable representatives from across the UK Muslim community to meet Dr Ali and his accompanying delegation. During this meeting they will discuss areas of potential market development, including microfinance within Islamic communities, job creation initiatives for women entrepreneurs and innovative methods for developing young Muslim talent.
The President will also meet educational institutions to learn about UK activities in education, training and qualifications in Islamic finance and setting up a small business.
Keith Phillips, Executive Director of UKIFS, commented: “I am delighted to welcome His Excellency Dr Ahmad Mohamed Ali and his delegation to London. His visit provides an ideal opportunity to demonstrate the UK’s undoubted strength as the leading western centre for Islamic finance. UKIFS aims to develop closer working ties with the IDB in its international work and important role in supporting innovation within the UK Muslim community.”
In addition UKIFS member organisations covering financial and related professional services will provide a background to their work in developing and promoting economic and social finance initiatives for the UK’s two million strong Muslim community and discuss how they can develop this work in co-operation with the IDB.
The Representative Lord Mayor Alderman Ian Luder said: “London’s skyline is changing due to Shariah-compliant finance on major infrastructure projects, such as the Shard and the redevelopment of Chelsea Barracks. I hope that the first class financial and related professional services the UK offers in Islamic finance will not only be used to improve infrastructure and investment in the UK but also in co-operation with the President and his IDB colleagues around the Islamic world.”
Richard Thomas OBE, CEO Gatehouse, said: “The UK Islamic financial services industry has played a key role in supporting the UK Muslim community in areas of personal finance, education and training, and CSR initiatives to better the lives of disadvantaged Muslim youth. Working with the IDB, which represents a major force for economic and social good in the world, it is hoped that we can mobilise funds in human capital initiatives, such as social housing or education projects, to enrich the lives of many more in the UK Muslim community. UKIFS and Gatehouse Bank welcome this opportunity to develop closer and stronger links with the IDB”.