Banking Pioneer appoints new Commercial Director
Islamic Bank of Britain, has appointed a new Commercial Director to oversee the Sales, Marketing and Operations functions of the company. Sultan Choudhury, formerly Director of Sales at the bank, has been promoted to the Commercial Director role, which became vacant following the promotion of Gerry Deegan to Managing Director in January 2007.
Mr. Choudhury joined the bank in January 2004, and was responsible for setting up Head Office Operations. This allowed the company to successfully lobby the UK banking regulator, the Financial Services Authority (FSA), for a banking license. Subsequently, he took over the Retail arm of the company, and increased the branch network to eight locations including London, Birmingham, Leicester and Manchester, as well as the introduction of internet banking services.
Mr. Choudhury previously held Senior roles at Deloitte and Touche, Barclays Private Bank and Charles Schwab Europe.
Managing Director, Gerry Deegan commented: “Sultan has made a significant contribution to the development of the Islamic banking in the UK, and he has been integral to the past successes of the company. We have ambitious plans going forward, and Sultan will be at the heart of our future successes.”
About Islamic Bank of Britain
Islamic Bank of Britain has pioneered Islamic retail banking in the UK and has launched a wide range of products, including current accounts, savings accounts, personal finance and home finance. The bank was also the first to introduce Islamic Business banking to the UK, and now offers a wide range of institutional and business banking products and services, including commercial property finance.
Several of the bank’s products remain unique in the UK retail market (e.g. Islamic personal finance and Islamic savings accounts).
The bank is authorised and regulated by the Financial Services Authority and meets UK banking regulations and strict safeguards for customer deposits. All products offered by the bank are fully approved by the Bank’s Sharia’a Supervisory Committee (SSC).
Whilst the bank offers products and services that are designed in accordance with Islamic principles, it is an inclusive bank and welcomes customers of all faiths.
Islamic banking operates without the use of interest (also known as “Riba” to Muslims). The products that are offered are structured in a different way to those provided by conventional banks. The bank uses the latest technology to ensure that it provides customers with a reliable and quality service on a par with other banks in the UK.
Notes to editors:
Interviews with Islamic Bank of Britain are available on request.
The bank should only be referred to as “Islamic Bank of Britain”. If abbreviated please use “IBB”.
ENDS
Issued by Islamic Bank of Britain, Edgbaston House, Birmingham B16 8NH
For further information please contact Junaid Bhatti on 0121 452 7377
Or email junaid.bhatti@islamic-bank.com