Islamic Bank of Britain

Islamic Bank of Britain PLC

Phone: +44 (0)845 6060 786
Fax: +44 (0)121 452 7205
Email:
Name

Islamic Current Account

Category
Current Account
Description
We use the Islamic principle of qard for our current accounts. A qard is an ethical loan, free of any benefit. In essence, it means that your current account is a loan to the bank, which is used by the bank for investment and other purposes.
Obviously it has to be paid back to you, in full, on demand. It allows you the peace of mind of depositing your money in a bank, with the additional reassurance that Islamic Bank of Britain is not investing your money in activities that contravene Sharia principles.
Eligibility
Over the age of 16
Details
-Interest-free bank account: receive no interest, pay no interest
Debit card and cheque book (subject to status)
Funds deposited will be administered in accordance with Sharia principles
International payments
Automatic access to your account via our automated telephone banking service 24/7 or online
Featured
Yes
View All Accounts By Islamic Bank of Britain View All Accounts By All Banks

Reviews

This place is where you can write your valuable comment, suggestion, complain or share your views about this banking items. Other people can get the benefit from your input knowing how good/bad this item is. Your valuable feedback will help the bank to refine their products and improve the quality of services.
Comments powered by Disqus