Choudhury will receive his award from Birmingham City University at a ceremony in January.
Sultan Choudhury (pictured), chairman of Islamic finance bridging lender Offa, is to receive an honorary degree from Birmingham City University.
With 27 years of experience in professional and financial services, Birmingham-born Choudhury is being celebrated for raising the profile of Islamic banking in the UK through his engagement with communities, governments and international organisations.
In 2004, Choudhury set up the operations of the first Islamic bank to be authorised in the UK, developing its head office operations, product range and service delivery.
As CEO, he established the Islamic Bank of Britain, later known as Al Rayan Bank.
Choudhury is also chairman of the National Zakat Foundation, which aims to utilise charitable funds collected in the UK for the benefit of deserving recipients across the country.
He is a chartered accountant and a member of the Chartered Institute for Securities and Investment (CISI), and received an OBE in the Queen’s 2017 Birthday Honours List for services to the UK’s Islamic finance market.
Islamic finance emerged in the 20th Century as a tool for financing development worldwide, including in non-Muslim countries.
Islamic organisations run their operations in a way that is consistent with the principles of Islamic law; the industry's global assets are expected to reach £2.8tr by 2023.
Choudhury will receive his award from Birmingham City University at a ceremony in January, before students graduating from the University’s Business School.
Birmingham City University recently announced the launch of the first Accounting and Islamic Finance undergraduate course in the UK.
The University will host a free event on Wednesday 1 December, highlighting the role of Islamic finance in the UK’s post-COVID recovery, highlighting how Muslim-owned businesses have been affected by the pandemic and the demand for Sharia compliant finance options during their recovery.
Choudhury said: “I am very proud to receive this honour from Birmingham City University - a remarkable institution providing a pivotal platform for its students to fulfil their potential in life, based in the city where I have always lived and worked.
“I have been involved in Islamic finance in Birmingham, nationally and internationally for 17 years and have seen the sector establish in the UK delivering financial inclusivity to many for whom conventional banking is not an option.
"The Islamic finance industry’s prospects continue to be bright and it is globally a high growth industry developing all the time.“
