Qatar […] 1 Islamic Bank of Britain. Bank’s Name 1. This type of scheme, with some minor modifications, is used in the United Kingdom by HSBC Amanah Finance, Ahli United Bank and United National Bank. Since then, we’ve seen the larger mainstream banks dip in and out of Islamic finance. Islamic Bank of Britain 2. 2 Qatar Islamic Bank. Anna Meisel and Peter Oborne reveal how the decision was made. Islamic Finance in the UK. The Ruling on the Permissibility of Financing Properties using Islamic Ijara Mortgages (as implemented by HSBC and other banks in 2004) Many people have enquired about the permissibility under shari'ah of the so-called Islamic ijara mortgages recently announced by banks such as HSBC. The United Kingdom is home to a number of Islamic Banks, as well as a number of window operations offered through conventional banks and is positioned as the leading Western Hub for Islamic Finance with the widest breadth of auxiliary services covering Sukuk structuring, Accounting, Auditing, Education and Consulting. Qatar Islamic Bank 3. Sharia Compliant Banking Providers in the United Kingdom. Last year international banking giant HSBC suddenly closed the bank accounts of several prominent British Muslims. Islamic mortgages are available from a number of banks in the UK. The bank makes its profit from the difference between the price it pays for the property (including related transaction costs) and the amounts received in installments from its client. EIIB (European Islamic Investment Bank) 4. Habib Bank 5. National Bank of Pakistan 8. HSBC is the only high street bank to offer an Islamic mortgage service, but smaller specialist banks such as Ahli United Bank, Alburaq, Islamic Bank of Britain have Sharia products. HSBC Bank 6. Riyad Bank 7. Islamic Banks Lists S.No. Sadly, none of these banks provide Islamic products in the UK anymore. Islamic law prevents Muslims from paying or receiving interest. HSBC Holdings is to scale back its global Islamic banking operations and stop offering products in the UK as part of a wider restructuring. Under Islamic mortgages the bank technically buys a property which is rented to the customer on a 25-year term until sufficient payments have … HSBC has closed its Islamic finance operations in 2012. HSBC’s total UK mortgage portfolio is in excess of £70bn. Bahrain Middle East Bank 12. [1] Back to 'Charges and overdrafts' 3. 3 EIIB (European Islamic Investment Bank) 4 HSBC Bank. 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