Conservatives visit Islamic Bank of Britain

Mark Hoban, the Conservative Shadow Treasury Minister, has visited the Birmingham based Islamic Bank of Britain. He was welcomed by Michael Hanlon, its Chief Executive and some of its senior management. Mr Hoban was there to understand more about the Sharia compliant products offered by the bank and he discovered how they are essential if members of the Muslim community are not going to be financially excluded. During the visit Mr Hoban was briefed by senior management and staff on the bank’s operations and its products. It is the only bank that is entirely Sharia compliant.

Following the visit Mark Hoban said:

“The Islamic Bank of Britain is providing a valuable service to Muslims in Britain by offering Sharia complaint products. The historic lack of such products has led to financial exclusion for many in the Muslim community, who want to manage their finances in line with the teachings of the Koran. The Islamic Bank tackles this financial exclusion by offering bank accounts, loans and mortgages which meet these criteria.

“The success of the Islamic Bank of Britain and the need for these products is reflected in developments in the City, where there is a great deal of interest in developing new products to meet the needs of Muslims. I believe that this is a huge growth area offering great opportunities to Muslims and non-Muslims both here and overseas.”

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Name: Giles Bancroft