Positive Muslim News

News about good things Muslims are doing in North America and around the world.

Wednesday, September 22, 2004

First UK Islamic bank opens doors

Salam/Peace:

The UK's first Islamic law compliant stand-alone High Street bank opened in London on Wednesday.

The Islamic Bank of Britain's first branch is on Edgware Road, conveniently located for London's Arab community.

The venture was given the go-ahead by City regulator the Financial Services Authority in August.

The bank will be run according to Islamic law, or Sharia, which forbids interest payments and stipulates that charges should be agreed in advance.

Read the whole article at:
http://news.bbc.co.uk/1/hi/business/3676138.stm

1 Comments:

  • At 9:10 PM, Anonymous CreditGooroo said…

    Huh… Islamic bank… As I know, there are a lot of Moslems in UK. It’s a really good news…

     

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