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

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

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.

Azhar
I phoned them the other day and they were really helpful. It was a refreshing change to talk to someone who was interested in what I had to say. I would be really interested in there mortgage product later this year. I`m sure people are thinking this bank is just for muslims, but I think that when they start to grow people like myself who are not muslim will become more interested.

Hi
It will be 35 p in april.Its interim report is coming in april.hold for a ride

Up 20% in the last 2 days.

Amazing performance in last couple of days. Only thing I've seen is that they have started Internet banking. I think there will be strong demand for mortgages when they start as existing Islamic mortgages are still making profits for non Islamic banks. The only question is what price do you put on IBB? We'll have a better idea after the results.

hi
Its above than mine expectation. its ibb day today

Nice to see a share price doing nicely today. A little gold mine springs to mind.
:-)

up another 32%.

looks good and tempted to buy but not sure why a sudden rise.

what a day

lots of buys coming through looks good so far,is there something happening or any news that some one can reflect on this.

Amid all the excitement, a question:
What happens if the bank have to repossess?
Would that happen in the normal standard way?
Excuse the ignorance..

Also,who pays for maintenance,the owner IBB or the tenant?

Budget boosts Islamic Bank

One of the main beneficiaries of last week's Budget was the Islamic Bank of
Britain (IBB). The group saw its shares soar 143 per cent to 65p this week
after Gordon Brown said that Sharia'a-compliant bank accounts will be taxed
on the same basis as conventional ones, allowing the group to develop more
products.

http://www.addicted2shares.co.uk

azhar
luck seems on your side with this one,
you deserve it,

Excuse my ignorance, but having worked and been in many Islamic countries, one of the cornerstones of Islamic banking is that it makes no profit from the money and nor does the customer. That's why you get 0% interest credit cards, 0% rate mortgages, and also you no interest on your savings. Is it really an Islamic bank, and if it is, then, well, I wonder whats going on.

From their final results

"There is no difference between the retained loss for the year and the retained
losses on an historical cost basis.

The result for the year is derived entirely from continuing activities.

There were no recognised gains or losses in the year other than the loss set out above "


I must admit to being lost here as to why the shares are suddenly wanted ?!

Perhaps a tipsters play.

If you miss a repayment on a sharia mortgage, do they chop your hands off?