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Islamic Bank of Britian (IBB)     

johngrinsell - 24 Oct 2004 22:04

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

shedjock - 25 Oct 2004 22:37 - 9 of 219

http://www.islamic-bank.com/islamicbanklive/GuestHome/1/Home/1/Home.jsp

There's a good place to start your research. It has Muslim and non-Muslim customers. And it pays a "profit dividend" rather than interest. I need to look at the basis on which it pays it and how it is calculated.

Hmmmm..... interesting Bond........ very interesting

johngrinsell - 26 Oct 2004 10:03 - 10 of 219

They are opening branches in Birmingham next year.I know a lot of musliams up there. I`ll make a few calls see what the interest is. They are also geting into internet banking. just have a feeling about this one. Mind you, that means nothing going on my track record! Ho Ho

azhar - 26 Oct 2004 12:10 - 11 of 219

I am a muslim and was thinking of getting my Mortgage from them. I think there will be a lot of muslims taking up their sharia compliant Mortgage.

shedjock - 26 Oct 2004 12:31 - 12 of 219

Hi Azhar....... Can you tell me whether the cost of the "loan" compares favourably with a Standard variable rate mortgage offered by other lenders ? And if there are any drawbacks ?

Thanx...

azhar - 26 Oct 2004 22:50 - 13 of 219

Some of my friends have taken mortgages with them recently and have said the costs per month are similar. The draw back is that the deeds are with the bank and not on your name.

Baughfell - 27 Oct 2004 00:15 - 14 of 219

I'm considering a business plan for an anglo-saxon bank of saudi arabia.

shedjock - 27 Oct 2004 00:25 - 15 of 219

I'm considering buying some IBB stock.......... but if he'd said no, it's dirt cheap, I would have left it alone...........

Shukrya

aldwickk - 27 Oct 2004 12:49 - 16 of 219

i'm considering a plan for a Christian bank of Saudi Arabia.

Janus - 27 Oct 2004 13:22 - 17 of 219

Mmm well good luck in your plan but doubt it will get beyond your planning stage. It could be construed as spreading Christianity. and they are not as tolerant over there as the UK.

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