Opens first North West branch
Islamic Bank of Britain Plc
05 January 2006
ISLAMIC BANK OF BRITAIN PLC
5 January 2006
Islamic Bank of Britain opens first North West branch
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 Stockport Road branch marks the first time that Manchester's 36,000 Muslims
(2001 National Census) 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.
• 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.