Sharesmagazine
 Home   Log In   Register   Our Services   My Account   Contact   Help 
 Stockwatch   Level 2   Portfolio   Charts   Share Price   Awards   Market Scan   Videos   Broker Notes   Director Deals   Traders' Room 
 Funds   Trades   Terminal   Alerts   Heatmaps   News   Indices   Forward Diary   Forex Prices   Shares Magazine   Investors' Room 
 CFDs   Shares   SIPPs   ISAs   Forex   ETFs   Comparison Tables   Spread Betting 
You are NOT currently logged in
 
Register now or login to post to this thread.

Islamic Bank of Britian (IBB)     

johngrinsell - 24 Oct 2004 22:04

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

azhar - 28 Nov 2004 17:19 - 58 of 219

very interesting article. Thanks

johngrinsell - 28 Nov 2004 19:06 - 59 of 219

Hi Azhar

At 26p its surely a chance to get in at the ground floor and wait.
I wonder when and if they plan to give dividends.

mg - 29 Nov 2004 08:14 - 60 of 219

johngrinsell
Surely dividends would contravene the basis upon which an Islamic Bank operates. I have no problem in being corrected but aren't dividends a form of interest - and a contradiction?

azhar - 29 Nov 2004 08:38 - 61 of 219

No mg. Dividends are a portion of the profits made by the company. cos the bank is wholly sharia compliant the profits made by the bank will also be HALAL so the divdend would be acceptable.

mg - 29 Nov 2004 08:54 - 62 of 219

azhar
Thanks - not too well up on sharia law - is it something to do with zirkat (sp?) - as one of the pillars of islam ??

azhar - 29 Nov 2004 18:25 - 63 of 219

Sharia law covers everything in life from birth to death from running a home to running a business, punishment etc..

Zakah is one of the 5 pillars of Islam which means everyone with more than about 650 (current rate) and has had that amount saved for at least 1 year will need to pay 2.5% to the poor and needy.

Iain - 29 Nov 2004 18:34 - 64 of 219

Ill send you all my address pronto then :-)

mg - 29 Nov 2004 18:36 - 65 of 219

azhar
Thanks for that - it's one of the many admirable aspects of Islam that gets lost in these difficult times.

I'm not a religious person myself but have regard for those for whom faith is a constant in their life. As long as it is not used as an excuse to get involved in those things for which it is not intended ;)

Dov - 29 Nov 2004 22:55 - 66 of 219

azhar - 30 Nov 2004 20:13 - 67 of 219

Iain, LOL!

johngrinsell - 01 Dec 2004 17:03 - 68 of 219

Up a bit today I see.
Hope the price starts to pick up now. Have a feeling IBB will do well.
I read somewhere they plan to do internet banking next year.

hlyeo98 - 02 Dec 2004 12:39 - 69 of 219

This kind of banking system is too difficult to operate in modern societies. Don't think it will do well. Refer to this week's Investor's Chronicle.

blueledge - 06 Dec 2004 10:23 - 70 of 219

I could see no article in Investor`s` Cronicle.

hlyeo98 - 21 Jan 2005 18:36 - 71 of 219

Still 27.75p after all this time...so static.

johngrinsell - 22 Jan 2005 21:58 - 72 of 219

New branch opened in Birmingham this month and more to open this year. I rang them to find out about Mortgage products. They were very helpful but have no product until later this year. I know an ex bank manager who has just purchased shares. Very little down side.

Dil - 23 Jan 2005 05:40 - 73 of 219

Downside is 100% same as any other share.

johngrinsell - 23 Jan 2005 13:32 - 74 of 219

You know what I mean Dill. IBB is regulated by the financial sevices authority, this being the difference between this bank and other foreign Islamic banks that have failed. I think my cash is safe, but if you want 100% safety put your money in the builing society.

hlyeo98 - 23 Jan 2005 14:41 - 75 of 219

it will be 27-30p by end of year

johngrinsell - 23 Jan 2005 16:49 - 76 of 219

If you think that just dont buy any. They will at some time give a dividend too I would think.

azhar - 23 Jan 2005 20:29 - 77 of 219

johngrinsell, I agree with you there is a lot of backing by the Arabs and we all know they have a lot of dosh. this will be going place and they already have 20 million in the bank. expanding all the time and soon will stretch out to Europe. One to buy and hold in my opinion.
Register now or login to post to this thread.