Analysis

Briefing: London’s Islamic aspirations move closer with MOU

By Jon Guy 2022-11-09T11:14:00

indonesia (2)

London is looking to Indonesia to help create opportunities around Islamic insurance and diversity

While all eyes have been on Egypt for the 2022 United Nations Climate Change Conference (Cop27), which kicked off on 6 November, the London market may have snuck open the door to its long-held ambition to become a leading global centre for Islamic financial services.

While Lloyd’s of London chief executive John Neal was in London wishing new prime minister Rishi Sunak a good trip to Cop27, the International Underwriting Association’s boss Dave Matcham was in Jakarta, where the London market signed a memorandum of understanding (MOU) with the Indonesian Sharia Insurance Association (AASI).

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