The UK could become an international provider of Islamic finance with an education scheme from UK Trade & Investment.
Currently, Islamic finance is believed to be worth £249 billion, and it is predicted to grow a further 15 per cent per annum in the next few years.
The main principle of finance under Sharia law is that making money from money, such as interest, is forbidden and the majority of high street banks offer Sharia-compliant banking services.
Andrew Cahn, chief executive of UK Trade & Investment, said: "In these tough times it's more important than ever that we make the most of growing sectors like Islamic finance.
"That's why it is important the UK's financial industry provides an open door and positions London as a leader western financial centre for Islamic finance."
Meanwhile, Muslims have been offered the first halal car insurance products.
Principle Insurance Holdings is aiming the new Salaam car insurance at Britain's two million Muslims as part of a number of Sharia-compliant financial products.
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