Skip to content

What's wrong with Islamic finance?

Printer-friendly version

Islamic finance has been welcomed uncritically into the UK. Today there are over twenty lenders in the UK offering Islamic financial services. The British government has been promoting Islamic finance for some years and Britain is the largest provider of Islamic finance courses in the world. In 2014, Britain made history by becoming the first non-Muslim country to issue a sovereign Islamic bond.


Watch Tim summarise the dangers of Islamic Finance

There are serious problems and concerns to raise about Islamic finance, however, and this is why we have produced this booklet. Islamic finance is based on the idea that the Qur'an prohibits all forms of interest. In fact, Muslims have borrowed and lent money with interest throughout history, and most still do so today.

The idea that the Qur’an prohibits interest is a modern radical interpretation of the Qur’an which is intended to promote Islamic segregation and to create a separate, rival financial system. It also aims at increasing the influence of sharia law more generally.

In this twenty-four-page booklet we outline ten problems with Islamic finance. It is time for the government and western financial institutions to recognise these problems and to stop promoting Islamic finance. 

Download the booklet.

 

Twitter

  • David Robertson recently wrote an open letter to Vicky Beeching. He shares his experience since then and what the… https://t.co/5n2lVGA9dZ 15 hours 47 min ago
  • Previously 'locked-in' boy tells his story: https://t.co/OvuF5TO65W Jonathan Bryan, a 12-year-old, spent the first… https://t.co/dpIsA0vDlZ 1 day 14 hours ago
  • Radio interview on the New Normal. Dr Robert Lopez, a contributor to The New Normal, spoke to a Detroit radio stat… https://t.co/iBlGMzI8UG 1 day 22 hours ago
  • University fires chaplain for anti-Pride church service, even though his service was held off university premises a… https://t.co/lkahPEHc7v 2 days 12 hours ago
  • We're seeking an energetic and organised Events Officer to help deliver high quality events, as we serve and equip… https://t.co/shjG7iIu4b 4 days 14 hours ago

Subscribe to our emails