Contents:

1 GENERAL INFORMATION INTRODUCTION AUTHOR INFORMATION OVERVIEW OF MARKET ETHNIC MINORITIES HOW MANY MUSLIMS THE NEED ISLAMIC FINANCE IN THE UK;EARLY PROBLEMS GLOSSARY OF ISLAMIC TERMS ISLAMIC FINANCE ISLAMIC FINANCIAL SERVICES MARKET SIZE MARKET POTENTIAL FUTURE GROWTH WHY ENTER THIS MARKET AND WHY NOW DISTRIBUTION CHANNELS RETAILERS ETHICAL CUSTOMERS MARKETING IDEAS OUT OF THE BOX TEN YEARS HENCE SHARIAH COMMITTEE/BOARD PROMOTION/ MARKETING 2 PERSONAL BANKING/MORTGAGES AND INVESTMENT A INTRODUCTION PROBLEMS HOW DO BANKS MAKE MONEY ? HISTORY SOLUTIONS PROBLEMS REMAINING GOVERNMENT AND REGULATORS FUTURE DEVELOPMENT MARKET PLAYERS PLANNED MARKET ENTRANTS B CURRENT ACCOUNTS INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS PROBLEMS REMAINING HISTORY MARKET PLAYERS FUTURE MARKET PLAYERS C SAVINGS ACCOUNTS INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS VARIATIONS FUTURE DEVELOPMENT MARKET PLAYERS FUTURE MARKET PLAYERS D PERSONAL LOANS INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS FUTURE DEVELOPMENT MARKET PLAYERS E MORTGAGES INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS VARIATIONS PROBLEMS REMAINING DIFFERING USE AND IDEAS HISTORY FUTURE DEVELOPMENT REGULATION MARKET PLAYERS FUTURE MARKET PLAYERS THE OPPOSING VIEW COMMENT F BUY TO LET MORTGAGE INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS VARIATIONS HISTORY FUTURE DEVELOPMENT MARKET PLAYERS FUTURE MARKET PLAYERS G RIGHT TO BUY MORTGAGE INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS PROBLEMS REMAINING GOVERNMENT AND REGULATORS HISTORY FUTURE DEVELOPMENT MARKET PLAYERS FUTURE MARKET PLAYERS H CHILD TRUST FUND INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS PROBLEMS REMAINING GOVERNMENT AND REGULATORS HISTORY FUTURE DEVELOPMENT MARKET PLAYERS FUTURE MARKET PLAYERS I WEALTH MANAGEMENT INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS FUTURE DEVELOPMENT MARKET PLAYERS FUTURE MARKET PLAYERS 3 COMMERCIAL BANKING and COMMERCIAL MORTGAGES/ INVESTMENT A BUSINESS ACCOUNTS INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS HISTORY FUTURE DEVELOPMENT MARKET PLAYERS B CHARITY ACCOUNTS INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS MARKET PLAYERS FUTURE MARKET PLAYERS C COMMERCIAL LOAN /COMMERCIAL MORTGAGE GENERAL D REAL ESTATE/ PROPERTY INVESTMENTS INTRODUCTION HISTORY WHATS WRONG WITH CONVENTIONAL PRODUCTS THE SOLUTION PROBLEMS REMAINING THE FUTURE MARKET PLAYERS FUTURE MARKET PLAYERS E TREASURY SERVICES GENERAL 4 TAKAFUL INSURANCE A OVERVIEW PROBLEMS WITH NORMAL INSURANCE THE MUTUALS B INDIVIDUAL TAKAFUL INSURANCE HOME INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS MANAGEMENT TAKAFUL IN PRACTICE HOW THE NEW TAKAFUL INSURANCE WORKS HISTORY FUTURE DEVELOPMENT MARKET PLAYERS FUTURE MARKET PLAYERS C MOTOR INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS FUTURE DEVELOPMENT MARKET PLAYERS FUTURE MARKET PLAYERS D TRAVEL INTRODUCTION SPECIAL COVER WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS FUTURE DEVELOPMENT MARKET PLAYERS FUTURE MARKET PLAYERS E LIFE INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS POINTS ON MORTGAGES GOVERNMENT AND REGULATORS FUTURE DEVELOPMENT MARKET PLAYERS FUTURE MARKET PLAYERS F HEALTH INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS PROBLEMS REMAINING FUTURE DEVELOPMENT MARKET PLAYERS FUTURE MARKET PLAYERS G PERSONAL PENSION INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS GOVERNMENT AND REGULATORS FUTURE DEVELOPMENT MARKET PLAYERS FUTURE MARKET PLAYERS 5 COMMERCIAL INSURANCE A BUSINESS INSURANCE INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS MARKET PLAYERS FUTURE MARKET PLAYERS B PENSION FUNDS INTRODUCTION WHATS WRONG WITH STANDARD PRODUCTS SOLUTIONS PROBLEMS REMAINING HISTORY FUTURE DEVELOPMENT MARKET PLAYERS FUTURE MARKET PLAYERS C REINSURANCE GENERAL 6 OUTSIDE THE UK INTRODUCTION HISTORY TAKAFUL INSURANCE THEORY TAKAFUL POTENTIAL TAKAFUL MODELS IN PRACTICE Ta'awuni Model (Cooperative Insurance) Non-Profit Model Al Mudharaba Model Al Wakala Model WHY NOT CONVENTIONAL INSURANCE ? Gharar – "Uncertainty" Maisir – Gambling Riba - Interests RISK CONTROL TAKAFUL INSURANCE IN THE GULF BANKING PARTNERSHIPS ISLAMIC INSURANCE OVERVIEW Introduction History Growth potential Consumer friven Reinsurance Life assurance The Need Co-operatives Leading insurers BANKING OVERVIEW Introduction History The impossible has happened Training 7 ETHICAL CUSTOMERS GENERAL 8 CONCLUSIONS

Companies Mentioned

ABC INTERNATIONAL/ ALBURAQ AHLI UNITED BANK ANSAR FINANCE BRISTOL AND WEST CHILDRENS MUTUAL CREECHURCH EUROPEAN ISLAMIC INVESTMENT BANK FRIENDS PROVIDENT HSBC AMANAH FINANCE HALAL MORTGAGES ISLAMIC BANK OF BRITAIN LLOYDS TSB ISLAMIC FINANCIAL SERVICES " NEW TAKAFUL INSURANCE COMPANY " STANDARD LIFE UNITED NATIONAL BANK WEST BROMWICH WINTERTHUR LIFE