The Muslim Pound. Why It Matters.
By Riba Free Foundation
Fast Facts
£70bn
Annual Muslim
contribution to
UK economy
£1.3bn
Injected during
Ramadan alone
£2.2bn
Annual Muslim
giving
29
Typical Muslim age
vs 44 UK Average
15%
of NHS doctors
are Muslim
Sources: EQUI, BIMA
did you know?
- Muslims save the country £1.62 billion by not drinking alcohol – freeing up funds for the NHS and police.
- One in ten school children in the UK is Muslim, shaping Britain’s future economy and culture.
- Cambridge Central Mosque collects rainwater from its vast roof for toilets and gardens, making the most of God’s blessings while slashing water bills.
Young, generous and growing, British Muslims keep wealth moving and Britain benefits.
British Muslims have emerged as a significant economic force. From cab drivers and nurses to teachers, lawyers and top executives, Muslims put around £70 billion into the UK economy each year. That is roughly 3% of economic output.
What makes the numbers striking is the demographics. Muslims are young. Their typical age is 29, compared with 44 for Britons overall. As these younger generations advance in their careers, the Muslim contribution will surge, creating more jobs, businesses and tax revenue.
Behind this economic power lies a principle. Islam forbids hoarding wealth. Money must circulate. EQUI, a London think tank, found that Muslim-owned businesses contribute at least £24.7 billion to Britain each year. During Ramadan, Muslims inject up to £1.3 billion into the economy. “These numbers tell a story of a community that is not just integrated but is actively shaping and strengthening the fabric of our society,” the research states.
British Muslims are also the most generous givers in the UK. This is not by chance. From childhood, Muslims are taught to share wealth and care for the poor. A famous Hadith says, “He is not a believer whose stomach is filled while his neighbour goes hungry.
This isn’t just ethics – it’s built into the system. Zakat, our annual wealth tax, ensures money reaches those who desperately need it. In 2024, the National Zakat Foundation helped 26,000 people cover their food, rent and bills, easing pressure on overstretched social services. Beyond Zakat, Muslims donate an average of £708 to charity each year – more than four times the national average. In total, British Muslims gave £2.2 billion in 2024.
The Muslim pound matters because this constant circulation of wealth offers Britain real value. EQUI states that ‘Muslim-led businesses are uniquely positioned to lead’ the UK’s economic recovery because of their ethical approach to trade. While practices vary across businesses, many Muslim entrepreneurs are putting purpose before profit — prioritising fair wages, honest trading and transparency. They’re proving that when money moves ethically, everyone benefits.
Islam forbids hoarding wealth. Money must circulate.
At a time when trust is fragile and costs are rising, Muslim communities are already doing what economists say we all need to do: keeping wealth circulating and building prosperity that’s shared, not hoarded.
