UK - Islamic finance an opportunity for UK county Yorkshire

www.cipifinancial.net - Professor Ross Haniffa, Director of the Centre for Accounting and Accountability Research, believes Yorkshire should be taking the lead for Islamic finance in the UK.

In a statement posted on Hull University Business School’s website, Haniffa talks about the opportunities for Yorkshire businesses to get involved in Islamic finance.

“A significant proportion of the UK Muslim community lives and works in the Yorkshire region. Yet banks offering the Shari’ah-compliant services of Islamic finance are still few and far between,” he said.

He stated that over the last few years, there has been encouragement from the UK Government for the growth of Islamic finance in the UK through legislative adjustments and creating a supportive environment, but this has focused on promoting the financial centre of London.  (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 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)