Bradford is to have its first fully Islamic bank within the next few months to provide financial services for the city's Muslims.

The Islamic Bank of Britain is looking for premises in the Great Horton Road area and it expects to open for business in December or January.

The bank will be raecruiting nine people including a manager, sales and service advisers and cashiers.

The bank will be holding a series of free seminars in Bradford, Batley and Leeds with Asian Trade Link, a partner of Business Link for West Yorkshire.

The Islamic Bank of Britain was due to open its first branch in London today. Branches will follow in Leicester and Birmingham in November with Bradford following shortly afterwards.

Michael Hanlon, the bank's managing director, said: "This marks a new era in Islamic banking in the UK and the beginning of our work to broaden our product offering and branch network. "The current additional capital raising taking place will provide funds to allow us to implement these important growth plans and we are confident we can provide customers with a range of Sharia'a complaint products and services.

The bank will run the bank for Britain's 1.8 million Muslims in accordance with Sharia'a principles known as Mudaraba.

These forbid giving or receiving of interest and stipulate that all money must be invested in ethical industries.

The rules also state that money can not simply be traded for money. However it can be used to buy goods or services which can then be sold for a profit.

The bank, which is entirely independent of all other financial businesses, has raised start-up capital of £14 million in the UK and the Gulf.