The Islamic Insurance Association of London (IIAL) was formed in 2015 to provide a single point of contact for government and regulators, both in the UK and internationally, to engage with the London insurance market on the provision of Islamic insurance and reinsurance. The IIAL also works to encourage the establishment of standards for the transaction of sharia compliant insurance and to engage with the international markets to highlight the benefits of the London market for the placement of commercial risks.