Non-Muslims subscribe to Islamic Financing

Posted on December 17, 2006


Non-Muslims snap up Islamic accounts
By Julian Knight
Personal finance reporter, BBC News

Emma is interested in the middle east and all things ethical. Emma Dellaway, 25, from south London, likes to know that the money sitting in her current account is not doing harm. “I don’t have much money, as I am just starting out on my career, but what I do have should not be used unethically,” she says.

“I hate to think of arms going to some African country funded, however indirectly, from my account.”

Ms Dellaway took an unusual step to follow through her ethical beliefs.

She opened an Islamic current account. […]

“Branches are reporting interest from all communities,” according to says Paul Sherrin, head of Islamic Finance at Lloyds TSB, which along with HSBC and Islamic Bank of Britain offers Sharia compliant accounts. “There is an international precedent for this. In Malaysia up to 25% of Islamic accounts are opened by non-Muslims. […]

Please read the remainder of this article from the BBC here.