Noticed this bank new to the market recentley. any comment would be welcomed

was expecting it to go back to the 27p level where it has been for a long time i have been that would be a 9-10p (30%) gain

This one is still at least 2 years from profitability.
It will be a long wait although the downside is limited.

Ian

I have to express sorrow at my ignorance of Islamic culture and banking in particular. However, I suspect it is very straight, but worry that non-muslims would not bemefit from all the good bits. Further I wonder if there will ever be a dividend (it's against their principles, isn't it?)
The sp has shown some weakness, but I suspect their business will grow if it's properly conducted.
Unfortunately Islamic fundamentalists and "muslims" apper to be one and the same in many minds, something that will take many years to correct and even longer to erase. Therefore I wonder the wisdom of an equity investment here and, from this thread, I see the IPO was at 25p, - so today's price doesn't show much change.

In the last 5 years a lot of 'muslim money' has been invested in Islamic countries/companies because of fear of having funds/assets being frozen in US and EU. $ Billions have left US economy, which is reflected in weak dollor. I know a lot of people who have switched their banking to IBB recently although I am not sure how many have bought other services like mortgages etc.

This is a baby

Christians also are not allowed to charge interest, which they didn't used to do,
thats why there were a lot of jewish money lenders (they didn't follow christian laws).

So let me get this straight, The Islamic bank buys properties at market value and charges the same markup as you would pay on a similar interest deal which will be more than double the original price, the ancient christians would call this interest
and didn't do this practice, the Cambridge dictionary also defines this as usary and is forbidden in sharia law (you can't fool god or Allah)

I don't think all the muslims in britain will take this up, because a lot of them are not devout muslims but are westernised , and will want the cheapest deal on offer, which might happen to be HBOS.

Having said that, there will be enough people who join to make it a highly profitable business. However i don't think religion and capitalism should mix in this way, and when people start to get their homes repossessed or default on loan payments, the Islamic bank will come to be hated as much as the big four british banks.

Some big banks are also offering the same service.

One thing everyone should remember for those unaware of asian culture, is that
Asians do not borrow up to the eyeballs in debt like british people, but save and buy collectively, they also hold a lot of wealth in real currency (Gold!).
So don't expect the loan book of Islamic bank to look like the US budget deficit.

Good look guys i'm not investing!

The name (Islamic) makes IBB one step ahead of any competitor. IBB has the infrastructure and also received support from Islamic community and investors.

hlyeo98
And your point is.

no need for words, the chart says it all.....

You can see for yourself

It is not a big buy by a director - 6500


Islamic Bank of Britain director Mohsen Moustafa picks up 0.024 pct stake in co - AFX

LONDON (Thomson Financial) - Islamic Bank of Britain PLC said its director Mohsen Moustafa has bought 100,000 shares at 0.065 stg each, acquiring a 0.024 pct stake in the company.

I bet he's a bit pissed off, he could have saved a grand and bought today.

1.4m buys and only 250k sells but price ends up down 0.75p..??!

I think it is because he bought only 100,000 shares in the hope of boosting the share price. If he bought 1 million shares, that would have been a different matter.

More importantly 6500 is the total value of his holdings in the company. Pretty poor for someone in his position. Obviously he dosn't think that the company is worth investing in, so why should we. I held these several years ago and made a substantial profit when they rocketed to 74p. I may consider another tickle if the price keeps falling.

i wonder whats caused the 30% rise today...?

I just think they looked to cheap @ 5.5p I have a 100k holding, so perhaps I could get on the board.

What was that about 150% rise in 2 days, I,m out @ 12.5p very happy
Good Luck