LONDON, July 3: British Expertise and Islamic Financial System London (IFSL) have decided to establish Islamic Financial Services for Business (IFSB), said a press release issued here on Tuesday by the IFSL.

This will be a joint Working Group aiming to champion the export of UK based Islamic Financial Services.

IFSL’s role is to promote the international activities and expertise of UK-based financial services. It is the only independent cross-sectoral organisation representing the UK financial services industry.

British Expertise is the leading private sector organisation for the promotion of professional services from the UK. Its objective is to help member companies develop their business abroad. To achieve this it runs regular trade missions; welcomes visitors from abroad to meetings with its members and others in London; runs training courses and lobbies the British and other Governments in the interests of its member.

Islamic Financial Services for Business (IFSB) will represent practitioners of the enormous range of financial, professional and technical skills that the UK has to offer.

The main objective of the group will be to help member companies of both organisations to establish key contacts and to find potential partners and clients. The IFSB will manage outward missions, advise both the public and private sectors internationally and will coordinate inward visits to the UK.

The Working Group will operate under the umbrella of the Islamic Finance sub-group of the UK Trade and Investment (TI) Financial Services Sector Advisory Board and in close partnership with UKTI as well as the Corporation of the City of London.

British Expertise and IFSL have been successfully jointly running the PPP Export Advisory Group for the past eight years and will draw on that successful cooperation as the model for IFSB.