Advisory
The UKIFC has specialist capability in advising government agencies, regulatory bodies and financial institutions on creating enabling frameworks for Islamic finance.
The UKIFC has contributed significantly to the development of the UK Government’s Islamic finance framework over the past decade. The UKIFC offering includes: policy strategy, identifying and assisting with drafting necessary regulatory frameworks and capacity building. Through its work, the UKIFC has developed a proprietary methodology and is particularly well adapted to working with international jurisdictions operating within a secular context.
With over 250 partners and 74 offices across Europe, Middle East, South America and Asia, the UKIFC has developed a strategic partnership with top 10 global law firm CMS Cameron McKenna Nabarro Olswang LLP to deliver a comprehensive Government advisory offering.
Developing Enabling Frameworks for Islamic Finance
UKIFC provides specialist advisory services to governments, regulatory bodies and financial institutions to develop, strengthen and scale Islamic finance markets. Drawing on its international experience and proprietary methodology, UKIFC offers tailored support in policy development, regulatory framework design, Shariah governance and institutional capacity building, creating the foundations for sustainable growth and financial inclusion.
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Reducing Poverty and Boosting Prosperity
Through its extensive work with policymakers, regulators and development agencies globally, UKIFC provides specialist advisory services to advance financial inclusion. Drawing on its proprietary 6-A Model and international experience, UKIFC supports policy development, regulatory framework design and institutional capacity building to expand access to non-interest, participatory and Islamic finance, enabling greater consumer choice and more inclusive financial systems.
For more detail, please download the report.
Representative Activities
Advisory work to governmental institutions and NGOs (including fiscal and regulatory policy issues)
Contributing to technical consultations undertaken by national and supra-national bodies and authorities
Strategy advisory, product development and operational frameworks for financial institutions including Shariah governance frameworks and external Shariah auditing
Undertaking reporting/consultancy on specific commissioned projects on microfinance, takaful and waqf
Highlights
Worked across multiple regulatory agencies in Nigeria in a systematic structured manner over a five year period through local NGO partner EFInA (Enhancing Financial Innovation & Access). Work included Islamic capacity building sessions for professional bankers, working groups, microfinance programs, developing scholars, identifying regulatory gaps, undertaking operating framework analysis for Shariah compliance, reviewing capital markets master plans and assisting in developing takaful regulatory guidelines.
Appointed by the Scottish Government to advise on the development of an Islamic Finance Strategy for Scotland, including encouragement of foreign direct investment and international trade, sukuk funding for infrastructure, Islamic funds industry and promoting Islamic retail banking
Appointed by Jersey Finance to develop methodologies to attract potential Islamic financial investors and specific Islamic products
Worked with Financial Sector Deepening Africa and Kenyan Capital Markets Authority to undertake an Islamic finance market assessment and produce a road map for developing Islamic finance in Kenya
Developed a market leading waqf based asset allocation strategy for Europe’s largest Islamic charity
Reviewed Islamic mortgage structure for a development body in Afghanistan
Provide Secretariat and technical support services for UK Government’s All-Party Parliamentary Group on Islamic and Ethical Finance that is Chaired by Naz Shah MP and Co-Chaired by Lord Alderdice
Endorsements
“The UKIFC has provided superior services in ensuring the successful development of the non-interest (Islamic) finance industry in Nigeria. They have been a sound technical partner and without their expertise, support, and genuine commitment, we would not have achieved as much as we have done in this area. The UKIFC’s ability to work with a range of stakeholders, across jurisdictions, makes them an asset in the field of non-interest financial services.”
Modupe Ladipo, Former CEO,
Enhancing Financial Innovation & Access