Islamic Bank of Britain, the first totally Islamic British bank to operate in the UK, officially opened the doors of its second branch in the UK on Coventry Road in Small Heath, Birmingham today (Wednesday 5th January 2005).
The branch, which employs 9 people, was officially opened for business by Lord Mayor of Birmingham, Councillor Mike Nangle, and Michael Hanlon, managing director of Islamic Bank of Britain.
The Bank has already established itself in the city with its Hagley Road headquarters employing 50 staff, but the branch marks the first time that Birmingham’s 200,000 Muslims1 will have access to banking facilities from a British bank which is wholly operated in accordance with Sharia’a principles.
Michael Hanlon, managing director, comments: “As a business, we are already committed to Birmingham and I am delighted we are now be able to offer people in the city the opportunity to use our products and services with the opening of our Small Heath branch.
“We have ambitious plans for Islamic Bank of Britain and I see Birmingham playing an important role in our development and success.”
Islamic Bank of Britain offers its customers current accounts, savings accounts and a personal finance facility. Mortgages, credit/charge cards, foreign currency and small business banking accounts will become available later in the year.
Additional branches are planned for early 2005 in Leicester and Manchester, with a further seven branches planned this year.