Established in 2004 as the UK’s first wholly Sharia compliant retail bank, Islamic Bank of Britain has pioneered Islamic banking in the UK for a decade.
By solely focusing on banking activities which are compliant with Islamic law, IBB has been able to make a significant and lasting difference to Muslims throughout the UK, helping them to save for their families’ futures, expand their businesses or buy their own homes, without compromising their beliefs.
Sharia compliant banking operates without the use of interest and is founded on Islamic finance principles derived from trade, entrepreneurship and risk-sharing. IBB has a dedicated Sharia Compliance Officer (SCO) and a panel of respected Sharia Scholars, called the Sharia Supervisory Committee (SSC), which acts as an independent body to guarantee that its products and activities are Sharia compliant.
With a strategically located branch and agency network, a highly trained contact centre, secure online banking services and 24 hour automated telephone banking, IBB provides Sharia compliant savings, finance and current account services to over 50,000 personal, business and premier customers throughout the UK
IBB is authorised and regulated by the Financial Conduct Authority and Prudential Regulation Authority and is a member of Financial Services Compensation Scheme, the UK scheme which protects up to £85,000 of a customer’s eligible deposits.
IBB is incorporated and registered in England and Wales with Registration No. 4483430. Registered Office: Edgbaston House, 3 Duchess Place, Hagley Road, Birmingham, B16 8NH.