The Muslim Pound – How Muslims Add Value to Britain’s Prosperity 

28th October 2013

* New report highlights massive investment coming into UK from Muslim world

* British Muslims make an estimated £31+ billion contribution to UK economy

* Press conference Monday 28 October showcasing British Muslim entrepreneurs and professionals

* Part of World Islamic Economic Forum in London and in a non-Muslim country for first ever time

Ahead of the 9th World Islamic Economic Forum (WIEF), the Muslim Council of Britain (MCB) launches a report today highlighting the achievements and contribution of British Muslim businesses and business people to the UK economy and the new economic-sectors created to cater for a growing Muslim market.

Download report: The Muslim Pound

There are some 2.78 million Muslims in the UK, the report highlights how:

* They contribute £31 billion plus to the UK economy

* Some 114,548 Muslims are in ‘higher managerial, administrative and professional occupations’

* 13,400 Muslim-owned businesses in London alone creating 70,000 jobs

* Over a £1 billion being spent on the halal food industry

* British Muslims have an estimated spending power of £20.5 billion

With big deals being made at the World Islamic Economic Forum this week, the report highlights the added value the Muslim world brings to the UK’s economic prosperity:

* With Islamic finance totalling £1.3 trillion, London has become a major centre for the industry

* Islamic finance has helped build the UK’s newsiest landmarks.

The World Islamic Economic Forum

Emphasising London’s importance to the Muslim world, the city will be the first non-Muslim city to host the World Islamic Economic Forum.

Farooq Murad, Secretary General of the Muslim Council of Britain said: “London will play host to the Muslim world, with its heads of states, business leaders and investors. It tells us that UK plc is a net beneficiary when they have close links with the Muslim world. With our dynamic economy, our diverse communities and our willingness to embrace the Muslim world, we benefit economically through these close links”

The Mayor of London, Boris Johnson said: “I welcome the effort of the British Muslim community in bringing the World Islamic Economic Forum to London. My team have worked with the Muslim Council of Britain to bring this Forum to London, who has been a key delegation at World Islamic Economic Forum since its inception.”

Special Events

This year, in addition to sending a large delegation, the Muslim Council of Britain will be holding two sessions at the Forum. These are:

What is required to facilitate the continued growth of the Islamic Finance industry?

Wednesday 30 October 5.30pm

Organised jointly with the Association of Shariah Scholars in Islamic Finance (ASSIF)

Accessing Halal Pharmaceuticals: Halal Vaccines

Thursday, 31st October 2013

With keynote speech by Tun Abdullah Badawi

[ends]

Notes to Editors: 

The Muslim Council of Britain is the UK’s largest Muslim umbrella body with over
500 affiliated national, regional and local organisations, mosques,
charities and schools.

For further information please contact:
The Muslim Council of Britain
PO Box 57330
London
E1 2WJ
Tel: 0845 26 26 786
Fax: 0207 247 7079
media@mcb.org.uk

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