First Muslim bank to open in UK

Banking regulators say they have given permission for the first British-based Islamic bank to start operating.

The Islamic Bank of Britain will for the first time give the country's two million Muslims access to banking in accordance with Islam.

The bank's headquarters will be in Birmingham, home of one of Britain's biggest Muslim communities.

The bank will forbid the paying or charging of interest, which is considered usury and banned under Islam.

It has promised not to invest in companies associated with tobacco, alcohol or pornography.

British banks have recently started offering products tailored for Muslims but they are all non-Islamic banks.

Continued - http://news.bbc.co.uk/1/hi/business/3547374.stm

First Muslim bank to open in UK

Banking regulators say they have given permission for the first British-based Islamic bank to start operating.
Interesting. The Koran forbids charging interest for lending money. I wonder how the competition will keep in business

Just opening an account. If I didn't have to pay the interest on my house mortgage, it would be brill. :)

In Muslim banks you pay fees instead of interest, which adds up to basically the same thing.

It seems the ban of interest was a way to disarm Jews in the Middle East. Combined with the ban of alcohol it must have taken away a great deal of income from the hooknoses.

It is good that Arabs have their own bank for tactical reasons: anything that sets non-Whites apart helps us convert Whites.

It would be interesting to see if one of us opened an account with them and we was told that we couldn't because we're not Muslim. I wonder if we could bring a case against them?

In Muslim banks you pay fees instead of interest, which adds up to basically the same thing.

It seems the ban of interest was a way to disarm Jews in the Middle East. Combined with the ban of alcohol it must have taken away a great deal of income from the hooknoses.

It is good that Arabs have their own bank for tactical reasons: anything that sets non-Whites apart helps us convert Whites.

right, but the fees are less on the average. it's very interesting to read about actually, and might be considered as a serious alternative to the susual western model which depend much more on usury for their profitability.

I wont be suprised to see Whites actually flock to such a bank-

I wonder if the Christian Church will apply to open its own bank?

Hey, that's a very good question!


Antiochus, I know some about this, but not as much as I'd like; do you know of a good internet source about it?

Hey, that's a very good question!


Antiochus, I know some about this, but not as much as I'd like; do you know of a good internet source about it?

Here is a good description from Univ of Southern California:

http://www.usc.edu/dept/MSA/economics/islamic_banking.html

In Muslim banks you pay fees instead of interest, which adds up to basically the same thing.

Which of these hold your savings?

Oops! Looks like the freak stalker "lampshade" woke up again! *LOL*

Aww, poor little loser, does it hurt so much that you had your lying ass whipped half a year ago, that you can never let go of it? Poor widdle pervert.

Hey, do you stand by your statement that you hate all Americans because the U.S. fought Germany in WWII? Then how about Britons? By the same logic, shouldn't you hate all Britons because Britain fought Germany?

Ooops, doesn't it just big fat suck when your freaky bullshit comes back to bite you in the ass? *BG* :cool: