Alum Rock branch opened
Islamic Bank of Britain Plc
27 September 2005
ISLAMIC BANK OF BRITAIN PLC
27 September 2005
Islamic Bank of Britain opens Alum Rock branch
Islamic Bank of Britain, the only totally Islamic British bank to operate in the
UK, officially opened the doors of its second Birmingham branch, and sixth in
the UK, on Alum Rock Road on Tuesday 27th September 2005.
The branch, which employs seven people, was officially opened for business by
the Lord Mayor of Birmingham, councillor John Hood and Michael Hanlon, managing
director of Islamic Bank of Britain.
The Alum Rock branch joins the established Small Heath branch, giving
Birmingham's 200,000 Muslims (2001 National Census) even greater access to
banking facilities from a British bank which is wholly operated in accordance
with Sharia'a principles.
Michael Hanlon, managing director, comments: 'I am delighted we are now able to
offer people in the area the opportunity to use our products and services with
the opening of our Alum Rock 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,
a personal finance facility, foreign currency and business banking services.
Mortgages will become available later in the year.
Islamic Bank of Britain has existing branches in London, and Leicester.
Following the opening of the Alum Rock Branch, another is planned to open in
Manchester later in 2005.
• A group of Islamic Scholars act as Islamic Bank of Britain's Sharia'a
supervisory committee and all services, activities and investments must be
approved by this Committee. The Committee will also undertake regular audits to
ensure that all activity is compliant with Sharia'a.
• Islamic Bank of Britain is a UK registered company which started trading on
the Alternative Investment Market (AIM) on 12 October 2004.
• The Bank is not part of a larger conventional banking group so does not
compromise on its principles or practices and does not mix its funds in such a
way as to compromise Sharia'a.
For further information please contact McCann Erickson on 0121 713 3500 or
Alison Love on
0121 713 3782 or Alison.love@europe.mccann.com or Dawn Walker on 0121 713 3790
or dawn.walker@europe.mccann.com