“Finance with a moral foundation”
BBC religious affairs correspondent
In the midst of turmoil in the global financial system, there is one branch of finance that aims to operate within strict moral and ethical boundaries – Islamic finance.Â
But how will it survive in the current climate?
Opposite London’s largest mosque, in the heart of the capital’s Muslim community, is a branch of the Islamic Bank of Britain.
It is one of eight branches around the UK that bring Islamic finance to the high street.
It looks just like any other high street bank – but manager Abu Fozoll tells me that it offers finance with a difference. “Every single product we offer here is all Sharia compliant. From home purchase plans to direct savings, these are all governed by Sharia principles.”
That means there’s no mention of interest – instead, savers are offered a projected share of profits. In practice, Muslims can still get a return on their investment, but without compromising their religious principles.
High street Islamic finance is just one small part of a thriving industry.
Continue reading Al Bebeeceera sings the praises of Islamic Finance








