Lloyds TSB is under attack from various Islamic organisations for allegedly trying to close the account of Interpal – a charity that gives aid to Palestinians. Various websites have a copy of a letter of complaint to be sent to Lloyds’ City head office, with the name of the relevant employee. Alternatively, they give the…
Likely beginning by June 2009, Islamic banks will be authorized to open in France. Experts expect three banks will be shari’ah compliant – the Qatar Islamic Bank already established in London, the Kuwait Finance House, and the Al-Baraka Islamic Bank from Bahreïn. According to a study undertaken in May 2008, 500,000 Muslims in France are…
With the Sharia-compliant market growing by up to 15 per cent a year and estimated to be worth a trillion dollars (Dh3.67tn) by 2010, the number of Islamic investment banks in the UK is predicted to double within five years, said Samer Merhi, the executive director of the Gatehouse Bank, an Islamic finance house based…
With the Sharia-compliant market growing by up to 15 per cent a year and estimated to be worth a trillion dollars (Dh3.67tn) by 2010, the number of Islamic investment banks in the UK is predicted to double within five years, said Samer Merhi, the executive director of the Gatehouse Bank, an Islamic finance house based…
Non-Muslims both in England and in Islamic countries are increasingly opening Islamic bank accounts, which operate in compliance with Sharia law. Under Sharia Islamic law, making money from money, such as charging interest, is usury and therefore not permitted. Wealth should be generated only through legitimate trade and investment in assets. Sharia also forbids investing…
