15th December 2008 – Islamic Bank of Britain (IBB), announced the launch of a new website, www.ibbintermediaries.com, targeted at mortgage intermediaries and Independent Financial Advisers (IFAs). The site provides agents with a dedicated resource enabling them to re-sell IBB’s competitive Sharia’a compliant Home Purchase Plans and Commercial Property Finance products. This is a welcome development in the distribution of Islamic home finance and commercial property finance, offering new levels of facilities for intermediaries who wish to provide these alternative products.
The website, www.ibbintermediaries.com, allows registered intermediaries to submit leads and applications to the Bank, track the progress of deals and have unlimited access to printable copies of product literature. Registration is free and subject to compliance checks; only agents who are FSA regulated for Home Purchase Plan can use the full application and tracking service.
IBB provides an unrivalled service for intermediaries and IFAs, offering competitive fees and excellent support from regional sales consultants who can guide agents through IBB’s Sharia’a compliant products. Helping them through the simple application process, IBB consultants are also at hand to explain how IBB’s products differ from conventional finance products, what makes Islamic banking a safe alternative during these difficult economic times, and how Sharia’a compliant banking can meet the needs of British consumers of all faiths looking for a competitive, ethical and stable alternative. IBB also has a dedicated helpline for intermediaries (0121 456 7842) with specialists able to answer questions about both Home Purchase Plan and Commercial Property Finance products.
Intermediaries can introduce business to IBB in two different ways:
- Referral, i.e. the provision of basic customer contact detail
- Submission of a customer’s application via the website, www.ibbintermediaries.com
Commenting on the launch, Sultan Choudhury, Commercial Director said, ”The launch of ibbintermediaries.com is an exciting development for IBB. Our unique position, as the UK’s only Islamic Retail Bank, has meant we have remained largely insulated from the credit crunch. As a result, British consumers are increasingly considering products such as the Home Purchase Plan. Intermediaries can capitalise on this fantastic opportunity, which IBB has made easier through the dedicated support offered via the website, helpline and regional sales consultants.”
Choudhury added, “Intermediaries play a vital role in IBB’s sales strategy and we look forward to working more closely with this important group.”
About Islamic Bank of Britain
Islamic Bank of Britain has pioneered Sharia’a compliant retail banking in the UK and has launched a wide range of products, including Current Accounts, Savings Accounts and Personal Finance. The bank was also the first to introduce Sharia’a compliant 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.
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).
Sharia’a compliant banking operates without the use of interest. The products that are offered are structured in a different way to those provided by conventional banks.
Whilst the bank offers products and services that are designed in accordance with Sharia’a principles, it is an inclusive bank and welcomes customers of all faiths.
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