Islamic Bank of Britain, the only totally Islamic British bank to operate in the UK, officially opened the doors of its Manchester branch, the first in the North West and seventh in the UK, at Stockport Road, Longsight on Thursday 5th January 2006.
The branch, which employs eight people, was officially opened for business by the Lord Mayor of Manchester, councillor Mohammed Afzal Khan and Michael Hanlon, managing director of Islamic Bank of Britain.
The Stockport Road branch marks the first time that Manchester’s 36,000 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: “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 Stockport Road branch.
“We have ambitious plans for Islamic Bank of Britain and I see Manchester 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. Home finance and internet banking will become available later in 2006.
Islamic Bank of Britain has existing branches in London, Birmingham and Leicester. Following the opening of the Stockport Road Branch, further branches are planned to open in the North West in 2006.
1 2001 National Census