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Europe’s tallest building will be a Symbol of Islamic Finance

June 20, 2011 by  
Filed under lead story, Persecution

The Shard, a developing skyscraper that will transform London’s landscape, is a potent symbol of the growing significance of Islamic finance, according to the Financial Times.

The Shard, which is under construction, will be the tallest building in the EU.

The Shard, which is under construction, will be the tallest building in the EU.

Dwarfing all other tower blocks at 1,016ft (310 metres), the new landmark near London Bridge, will become the highest building anywhere in the European Union. The project has been financed by sharia-compliant investment with a consortium of Qatari investors who have paid £150m to secure an 80% stake in the project. The Financial Times states that the Shard “has typified the role played by Islamic finance in not only supporting, but defining a new era in the UK construction and property industry”. It also claims that there are certain conditions on the types of businesses that are allowed to occupy the completed building since it has been backed by Islamic finance.

The Shard is currently 280 metres high and is scheduled to be completed by May 2012 where it will form a stunning backdrop for the Olympic Games.

View The Shard website

– Financial Times

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