The process of generating cash for the customer through our Halal Personal Finance Facility is, for example, as follows for a home owner facility of £10,000 over 12 months. Typical 8.9% APR (APR is based on the profit we make on the transaction, and can be used by you for comparison purposes).

	Step One
	Customer requires £10,000 for 12 months.

	Step Two
	Customer enters into agreement to buy a commodity from Islamic Bank of Britain on an agreed deferred payment period of 12 months.

	Step Three
	Islamic Bank of Britain sells the commodity to the customer at cost plus profit to be paid over the agreed period of time.

	Step Four
	Once in possession of the title to the commodity the customer appoints a third party broker to sell the commodity on their behalf.

	Step Five
	The proceeds from the sale of the commodity are credited to the customer’s account. The quantity of the commodity used in this transaction would enable the customer to generate the cash required.

	Step Six
	Customer has available funds of £10,000.

	Step Seven
	Customer makes monthly repayments.

For convenience purposes:

As the customer is not present during the commodity transaction, the customer gives an employee of Islamic Bank of Britain a restricted Power of Attorney to agree to purchase the commodity on his behalf.

The customer will also sign an agency agreement appointing a broker to sell the commodity on his behalf.

In relation to the commodity transactions, both the purchase and the sale will be carried out on the same day to minimise the risk of price movement.

Our Halal Personal Finance facility will only be available to UK residents aged over 18.
Islamic Bank of Britain plc, Edgbaston House, 3 Duchess Place, Hagley Road, Birmingham, B16 8NH.