The Muslim Pound

Celebrating the Muslim Contribution to the UK Economy

 ‘London has become a major financial capital of the Muslim world.’  That statement may sound alarming at first, given that the United Kingdom is rightly a Christian country with an established Church.

Yet, it is thanks to this, and her evolution as a parliamentary democracy that has led to many British Muslims making this country their home, contributing to the UK economy and helping Britain become ever more prosperous. Britain has had a long history with the Muslim world. Not just through the days of colonialism, but also as equal partners in trade. With that heritage, and with British Muslim connections to the Muslim world, the United Kingdom can and has
acted as a bridge for trade, understanding and peace.

In 2011, there are an estimated 2.8m Muslims in the UK. This report, published by the Muslim Council of Britain ahead of the 9th World Islamic Economic Forum (WIEF) hosted in London in October 2013, 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