This is a bank that is a bit late on capitalising on providing
forms of banking services to clients that wish to do so. This is a business thing and the term is "sharia compliant" which is that investments would not be in the Alcohol industry for example.
Before people run around with the idea that the UK is being "sissy" about the Muslims because of this, I would suggest you take time to look at the state of US banking.
Tell the US banks to remove the billions of Muslim bucks invested in US Treasury Bonds from their portfolios and watch what happens. Bankruptcy can be fun to watch if you are not personally involved!
And before you rush in with the thumbs down, I am not a Muslim and have no truck with terrorists whom I consider a blight on the planet. I am suggesting that we look at what is really going on. It might be worst than you think and it might not have anything to do with terrorists on the ground as Governments in the air!
I note that those who are instantly negative are, basically, the U.S. contingent who have been brainwashed into believing anything Arabic, in general, and Muslim in particular, must be funding terrorism which is kinda ironic since when it comes to making a buck those guys will sell their mothers to make a profit and I would not be in the least surprised to find out that American corporations probably have a stake in the bank that is making the deal. I think it very hypocritical of any American to get on their high horse about any capitalist venture because they have never baulked at selling guns to both sides in any conflict and that includes the middle east when it suited their interests.
None of the above should be taken to mean that I care one way or the other about the issue, any more than I would or could about sharks smelling blood in the water - My euphemism for bankers smelling a profit, which is ironic in its own way, since usuary is supposed to be illegal under sharia law, or maybe I have got it wrong.
I do enjoy the American commentators decrying anything Muslim, truth be told, your country is almost owned by the Saudi's, they are also well in the pockets of your Government, they dictate your foreign policy.
Learn tolerance, look and learn how their system actually works, and, BTW, Sharia banking has been going on in Britain for years, inside the Asian Community, it had to as the mainstream banks were racially biased, until they realised the money being generated.
I'm all for people making any financial arrangements they want so long as it's compatible with UK law, and so far as I know this is, and fair to all parties.
Live and let live. Start taking away people's rights to follow their own faith WITHIN THE LAW and you're oppressing them - and thereby giving them a real reason to hate us.
And surely it's better for these products to be available openly from legitimate banks than for people to have to go to underground sources of funds which might just divert the profits made to anti-British activities.
It's done so they can get mortgages without breaking the rules about paying interest. I have no objection to any fair financial arrangement like that. They'll still be forking out the same payments, it's just a wording difference on how they pay for it.
I think it is strange that the Muslims deem it necessarry to have this kind of account in line with ther faith and beliefs.
Yet if you go to any red light area in any city and look at the people who are most prolific there, you will see these same devoutly religious people.
Many of the corner shop keepers in the UK are Muslims and most are selling alchohol, newspapers and porn mags.
It appears to be a very convenient religion
As it says people other than Muslims are availing of it.It's up to the individual.
I'd steer clear of those districts Stephen you'll get a bad rep. and how come you know just where to get the porno stuff.You've been rumbled.
I live in England ,I don`t support sharia or any other organisation that supports terrorist unlike the US that supported the IRA.
You want Sharia you go to a country that supports it. That's basically the skinny. Apparently that includes our sister country England. I can't put enough emphasis on "sister".
i take it this means the bank will remove compound interest from mortgages. bonus!
