UK - QIIB bid on IBB - Islamic Bank Britain - Form 8 (OPD) QIIB

FORM 8 (OPD)

PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER

Rules 8.1 and 8.2 of the Takeover Code (the "Code")

1.

KEY INFORMATION

(a) Identity of the party to the offer making the disclosure:	Qatar International Islamic Bank Q.S.C.
(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient	As above
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each party to the offer	Islamic Bank (LSE: IBB.L - news) of Britain plc ("IBB")
(d) Is the party to the offer making the disclosure the offeror or the offeree?	OFFEROR
(e) Date position held:	19 June 2012
(f) Has the party previously disclosed, or is it today disclosing, under the Code in respect of any other party to this offer?	NO

2.

POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates

Class of relevant security:	1p ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	3,135,408,647	88.41	None
(2) Derivatives (other than options):	None		None
(3) Options and agreements to purchase/sell:	None		None
TOTAL (Other OTC: TTFNF.PK - news) : (source)

UK - Islamic Bank Britain - Offer Update

uk.finance.yahoo.com

FOR IMMEDIATE RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

8 June 2012

POTENTIAL OFFER UPDATE

FOR ISLAMIC BANK OF BRITAIN PLC ("IBB")

Further to the announcement made by IBB on 6 June 2012, in relation to an approach from Qatar International Islamic Bank Q.S.C. ("QIIB"), a 88.41 percent shareholder of IBB, requesting the opening of discussions with the board of IBB with a view to QIIB making an offer for the IBB shares not already owned by QIIB, any such offer to be effected by way of a scheme of arrangement, QIIB has further confirmed that if any offer is made it is likely that it would be solely in cash.  (source)

UK - Qatari bank set to buy ailing UK lender IBB

www.thenational.ae - Qatar's Masraf Al Rayan is in discussions to become the biggest shareholder in Islamic Bank of Britain (IBB), a troubled Sharia-compliant lender.

Masraf Al Rayan, the biggest Islamic bank in Qatar, announced after a board meeting on Monday that it had entered negotiations to obtain a controlling stake in IBB through a capital increase.
"Masraf Al Rayan will acquire 70 per cent of the bank and the government of the state of Qatar will acquire the remaining 30 per cent," the bank said. "This is subject to obtaining approval of the official authorities in the state of Qatar and the United Kingdom." (source)

UK - An Interview with Sultan Choudhury, Islamic Bank of Britain

www.newhorizon-islamicbanking.com - IBB came into existence in August 2004 when the Financial Services Authority (FSA) granted the Bank its license. In September 2004 IBB became a UK publicly listed company on the Alternative Investment Market (AIM). The Bank’s vision was to offer Shari’ah compliant retail financial services and the journey began when the capital was raised by investors in the UK and the Middle East. The first step was to set up the infrastructure, processes and products as well as bring together the team.

This was followed by the setting up of a branch network. IBB now has a national branch and agency network in key locations including London, the Midlands and North West. To complement this, and to enable Shari’ah-compliant banking to be accessible to consumers across the UK, IBB also developed its Smart Banking facilities, i.e. telephone and internet banking.  (source)

UK - Islamic Bank of Britain’s first ‘Islamic Finance Question Time’

www.cpifinancial.net - Islamic Bank of Britain plc (IBB) has held an exclusive event, entitled Islamic Finance Question Time – an open, public Q&A session hosted by the Bank’s Shar’ah Scholars.  Islamic Finance Question Time is the first event of its kind, and the only time a UK Islamic bank has given public access to the Scholars that form its Shari’ah Supervisory Committee (SSC).(source)

UK - UK bids to remain West's top Islamic finance hub

www.zawya.com - London has been providing Islamic financial services for 30 years, but in recent years the industry has started to attain a greater profile.

The United Kingdom ranks ninth globally amongst countries providing Islamic finance services, according to a May 2011 CityUK report. That makes it the leading Western country and Europe's premier Islamic finance center with USD 19 billion of reported assets. London has been providing Islamic financial services for 30 years, but in recent years the industry has started to attain a greater profile.

Omar Shaikh, board member of the Islamic Finance Council (IFC) in Britain, thinks that this higher profile results from four main factors. (source)

UK - Islamic Bank of Brotain launches ‘new banking experience’

www.thetelegraphandargus.co.uk - The Islamic Bank of Britain has launched its first high street outlet in West Yorkshire with a new agency serving the Bradford district.

The move follows the recent appointment of Sohaib Hamid as business development manager for the region. The IBB agency, located within Reeds Rains Estate Agents on Northgate, Dewsbury, is one of six agencies being opened by the bank this year.

It will serve customers across the West Yorkshire region including Bradford, Leeds and Wakefield.

The opening will help IBB to meet a growing local demand for Sharia-compliant retail financial products of which it has the largest range in the UK, including a Sharia-compliant mortgage alternative, home purchase plans, savings accounts, personal and business banking, as well as pensions and investment products, in conjunction with partners. (source)

UK - IBB : Islamic Banking Flourishes in Yorkshire

www.iina.me - YORKSHIRE, 2 Rabi 1/25 Jan (IINA)-An already flourishing Islamic bank in the United Kingdom is expanding its branches in the northern city of Yorkshire and other British cities to answer a strong demand for its Sharia-compliant services.

“We hope that this will give us a foothold in the Yorkshire region. We have plans to expand throughout the UK in 2012,” Imran Pasha, head of retail department at the Islamic Bank of Britain (IBB), told the Yorkshire Post on Tuesday, January 24.  (source)

UK - IBB expands into Yorkshire

www.theislamicglobe.com - Local press is reporting that Birmingham-based Islamic bank, the Islamic Bank of Britain is expanding into the northern English county of Yorkshire.
Speaking to the Yorkshire Post, Imran Pasha, IBB’s head of retail said that the bank was predicting a tenfold increase in its customer base within four years. (source)

UK - FINANCE - Islamic Bank of Britain launches Sharia compliant B2L mortgage alternative

mortgagestrategy.co.uk - Islamic Bank of Britain has entered the buy-to-let mortgage market with the launch of its Sharia compliant buy-to-let purchase plan.

Landlords of any faith looking for ethical and Sharia compliant finance can access IBB’s buy-to-let purchase plan with a deposit of only 25%.

To mark the launch IBB have also announced a promotional procuration fee of 0.5% gross, payable on referrals that drawdown prior to March 31 2012. (source)

UK - Islamic bank of Brittain launches the UK's only Shariah compliant retail discretionary portfolio service (DPS)

Based on Prmiums DPS Select service, Islamic Bank of Britain (IBB) will ensure the Shari'ah compliance of the discretionary investment services to investors based both in the UK and overseas. This follows IBBs announcement of a $31.5 million capital injection from Qatar International Islamic Bank. (source)

UK - BANKING - Islamic Bank of Britain Show Yourself to Compete with Conventional

REPUBLIKA.CO.ID, LONDON - Islamic Bank of Britain (The Islamic Bank of Britain or IBB) showed that even in middle-market society, Islamic banks can still compete with conventional banking business. The bank apparently dared to apply for a product competitive margin deposits, and even beat some major conventional banks in the country, such as Barclays Bank, Bank Skonlandia, Halifax Bank, and Northern Rock. (source)

UK - 4% return offered from Islamic Bank of Britain

Islamic Bank of Britain today announced a limited period profit rate of 4% returns for its 24 month Fixed Term Deposit Account.

Topping the ‘Best Buy’ tables, the account is currently beating the returns being offered by high street banks across the UK.  (source)

UK - Birmingham is first choice for Islamic finance’s finest

The current economic climate has led many organisations to review the way they manage their financial operations and raised awareness of alternative methods of finance, such as Islamic finance, which offer a more risk averse approach than traditional Western banking. 

Birmingham holds a long standing reputation as the European hub for Islamic finance - the city is often dubbed as the Silicon Valley for the UK’s Islamic finance industry and holds some impressive credentials in this sector. It is home to the Islamic Bank of Britain (IBB) - the first standalone Sharia compliant retail bank in the UK and Europe. It also hosts a range of professional consultancies offering specialised services to the Islamic finance sector. Many of these organisations, including the Islamic Finance Advisory and Assurance Services (IFAAS), have offices outside of the UK. As a result, Birmingham’s Islamic finance expertise has worldwide reach.(source)

UK - New range of Shari’ah-compliant UK pensions launched

Pointon York has launched a range of Shari’ah-compliant Self-Invested Personal Pensions (SIPPs) to meet growing demand from UK Muslims for a suitable retirement vehicle. The specialist SIPP provider is the first to receive Shari’ah-compliant accreditation by the Islamic Bank of Britain (IBB) for its full range of SIPPs

Sultan Choudhury, Commercial Director, IBB said, “People are being alerted to the risks of not putting enough aside in pensions for their retirement.  British Muslims in particular have had very limited choices of Shari’ah-compliant products to invest within their pensions.  Retirement planning has therefore been neglected because, amongst other reasons, the specific needs of Muslims have not been addressed. The launch of Pointon York’s range of SIPPs, accredited by IBB, therefore, represents a new opportunity for Muslims to invest for their future.”

Jo French, Managing Director of Pointon York, said: “The launch of our Shari’ah-compliant SIPPs is significant for Muslims, their IFAs and employers; it will encourage all parties to consider pensions as an important tool when planning for their retirement.  It will also provide IFAs with the right products to deliver bespoke tax and wealth management strategies to the Muslim community.  Employers will also benefit by being able to offer staff a pension scheme in advance of the 2012 auto-enrolment deadline. This is the first time that Muslim employees, IFAs and employers will have access to SIPPs accredited by Islamic Bank of Britain.” (source)

UK - LUXEMBOURG - London and Luxembourg battle over sukuk listing domicile

London and Luxembourg are engaged in a friendly “battle of the listings domicile” especially for sukuk and Islamic investment funds, and its seems that the London Stock Exchange (LSE) currently has the upper hand on its counterpart in the Duchy, Luxembourg Stock Exchange.

In a short and simple announcement on June 1, the London Stock Exchange welcomed "the listing of another two sukuk bringing the total number of sukuk which have listed on the exchange to 33 and the total money raised to $19.4 billion." The two latest listings coup include the IDB Trust Services Ltd.’s $750 million Trust Certificates, and the SIB Sukuk Company II Ltd.'s $400 million Trust Certificates which are due on May 25, 2016. (source - arabnews)

UK - Islamic Bank Britain - Cancellation of AIM Admission

ISLAMIC BANK OF BRITAIN PLC ("IBB" or "the Bank")

Cancellation of AIM Admission

Islamic Bank (LSE: IBB.L - news) of Britain Plc announces that further to the announcement of 15^th April 2011, the Bank's AIM Admission will be cancelled with effect from 7:00am tomorrow, Wednesday 27^th April 2011.(full story)

UK - Sesame partner with Islamic Bank of Britain

Sesame partner with Islamic Bank of Britain for Islamic mortgage alternative.

Sesame Network members will have access to the full range of IBB’s Sharia compliant mortgage alternative, the Home Purchase Plan.  As part of the tie-up, intermediaries will be able to submit fully packaged applications or referrals to IBB. (full story)

UK - IFAs set to offer a pioneering Sharia compliant investment service to clients

A new potential revenue stream for independent financial advisers (IFAs) has been created with the availability of a Discretionary Portfolio Service (DPS) accredited by Islamic Bank of Britain (IBB) as Sharia compliant. The DPS is a service that provides a range of investment portfolios comprising Sharia compliant assets. The DPS allows IFAs to tap into a large pool of customers looking to maximise their wealth with Sharia compliant and ethical returns.  (full story)

UK - Qatar's QIIB to buy out Islamic Bank of Britain

* Offer values Islamic Bank of Britain at around 25 mln stg
* Offering 1 pence per IBB share, 70 pct discount

LONDON, March 16 (Reuters) - Qatar International Islamic Bank (QIIB) QIIB.QA has agreed to buy full control of the Islamic Bank of Britain (IBB) (ISLB.L) as part of QIIB's plans to develop an international banking business compliant with Sharia laws.

The deal values the British bank at around 25 million pounds ($40.19 million). (full story)