Bradford event turns spotlight on Islamic finance (From Bradford Telegraph and Argus)

Bradford event turns spotlight on Islamic finance

8:21pm Monday 18th March 2013 in Business

More than 100 West Yorkshire Muslims attended an event in Bradford which focused on Islamic finance.

The networking dinner was organised by the Professional Muslim Institute and sponsored by the Islamic Bank of Britain plc and Ummah Financial, two of West Yorkshire’s leading Islamic finance providers.

Guest speaker was Imam Qari Asim, senior Imam at Leeds Makkah Mosque. It was one of several community-focused initiatives that IBB has been involved with since opening its Dewsbury agency in January 2012.

Sohaib Hamid, West Yorkshire business development manager, said: “Local residents have shown a keen interest in Islamic finance and IBB’s range of Sharia-compliant retail financial products. Islam forbids the use of interest, so members of the community are enthusiastic to learn how the bank’s Islamic savings accounts and Home Purchase Plans work. Awareness has also been high because Islamic banking is considered an ethical alternative to conventional banking.”