Interest in Islamic finance amongst the European countries has increased tremendously, evidenced by the growing number of Shariah compliant funds and Sukuk listings. In Europe, the UK is currently the largest Islamic finance center, yet other countries stand to offer much to the realm of Islamic finance, all possessing individual strengths in terms of regulation, infrastructure, expertise and knowledge. Coupled with the opportunities Islamic finance has to offer to the region in terms of serving a growing Muslim population and increasing cross-border trade and investments with the Middle East, it is only a matter of time before Europe becomes a major industry player.

An Introduction

In a bid to diversify its economy, seek more transparent forms of financing, and increase trade and investments with the Middle East, Europe is fast opening up to the global phenomenon which is Islamic finance. Europe‘s growing Muslim population and established financial regulations and infrastructure are also essential elements already present in the economy to boost the growth of Islamic finance in the region.

With major financial centers such as Luxembourg and London already home to 51 Shariah compliant funds totaling to US$500 million in assets, and 16 listed Sukuk issuances amounting to US$5.5 billion, there is evidence of increased market interest and participation in these sectors. The UK is currently the largest Islamic finance center in Europe, with Islamic assets worth US$19 billion, held by its five full-fledged Shariah compliant banks. Gulf banks such as the Abu Dhabi Islamic Bank is also seeking an operational license in the country to extend its services to an increasingly interested customer base.

Countries such as France and Ireland have also begun seeking regulatory reforms to accommodate Islamic finance into the mainstream economy, already mulling over the prospects of creating regulations and tax regimes specific to Islamic financial products. Cross-border efforts with major Islamic finance players in Asia such as CIMB have also been ramped up in Ireland, with CIMB Principal choosing to launch its Islamic UCITs program in the country.

European countries stand to offer much to the realm of Islamic finance, all possessing individual strengths in terms of regulation, infrastructure, expertise and knowledge derived from a long financial history. Coupled with the opportunities Islamic finance has to offer to the region in terms of serving a growing Muslim population and increasing cross-border trade and investments with the Middle East, it is only a matter of time before Europe becomes a major industry player.

The 2013 IFN Europe Issuers & Investors Forum will take you around the continent and explore the growth opportunities for Islamic finance, the potential Islamic finance has in resuscitating the European economy via increased cross-border investments with the Gulf and Asia, and the challenges present on the regulatory and tax front.

Through a series of exclusive regulatory country presentations, practitioner-led round-table discussions, non-debatable power presentations, original case studies and sector focused side sessions, the IFN Europe Forum in 2013 will again be the key, must-attend industry event for issuers, investors, regulators and all financial intermediaries involved in the Islamic financial markets with the slightest interest in the European markets.

With the proper implementation of regulations, education and understanding of Islamic financial products, and the provision of sufficient infrastructure, the capital markets of Europe could most definitely benefit from an increased participation in the global Islamic finance market.