Paris: Minister of the Interior, Mich_le Alliot-Marie encouraged mayors to develop confessional burial spaces in their municipal cemeteries. Currently, the majority of Maghrebi immigrants continue to be buried in their countries of origin. While Algerians often assisted one another for the onerous financing of burying their loved ones in Algeria, the Tunisian government financed the…
UK high street bank Lloyds TSB has launched a Shariah-compliant nostro account that enables customers to transfer money around the world in line with Islamic principles prevents any funds being invested in industries – such as alcohol and gambling – that are prohibited under Islam. Lloyds TSB says the account, which is aimed at the…
It’s the fastest-growing sector of the banking industry, yet few City boys know much about it and hardly any finance students are being taught it. But Islamic banking’s mysteries are now beginning to be unveiled and just this last month a business school and an accountancy body have announced new postgraduate programmes specialising in it….
AMSTERDAM (dpa) – The number of Muslims who would opt for an Islamic mortgage if it existed on the Dutch market is unclear, Rabobank spokesman Rene Loman told Deutsche-Presse Agentur dpa on Monday. Loman was responding to news Monday by the Amsterdam city board that it will ask the Dutch Finance Ministry to enable banks…
MANCHESTER – Two years after its launch, the country’s first fully Islamic retail bank cannot yet offer traditional products like mortgages, but Muslim clients say they feel more at home there. “You feel you’re putting your money in the right place,” said Kuwaiti-born Mona Aabbassi as she walked into the Islamic Bank of Britain (…
