Islamic Finance in the UK

Credit crises, recessions and increasing wealth inequality: can Islamic finance offer an alternative to modern economic problems? What is Islamic finance? The purpose of this study is to analyze the perception and awareness of non-Muslims towards Islamic finance in the United Kingdom and the selection criteria used by the consumers in choosing a financial institution. The research determines the extent to which non-Muslims are aware of Islamic finance in the UK and their perceptions towards it. The author has explained the behavioural aspects of consumers towards the financial services industry which helps in forming perceptions or beliefs. The author later on discusses intrinsic as well as extrinsic factors that affect non-Muslims perceptions towards Islamic finance in the UK. The research also highlights the issue of selection criteria for choosing a financial institution.