View more on these topics

Bethnal Green joins Lloyds TSB pilot

The branch of Lloyds TSB in London’s Bethnal Green has started offering Islamic banking services to the area’s Muslim community.

The branch is the latest to join Lloyds TSB’s Islamic Financial Services pilot, which now covers 17 locations.

Bethnal Green Lloyds TSB will now offer a current account and a home finance scheme designed to meet the needs of Muslims. The products comply with Sharia law, under which payment and receipt of interest is forbidden.

Bethnal Green joins London branches including Walthamstow, Edgware Road, and Aldgate as well as branches in Birmingham, Luton and Dewsbury, Bradford, Slough, Letchworth, and Southampton in offering this service.

Paul Sherrin, head of Islamic Financial Services at Lloyds TSB, says: “Bethnal Green is home to one of London’s strongest Muslim communities and by bringing Islamic banking to the area we hope to give our customers a real alternative to traditional banking.

“Our Islamic financial services are now available in many branches and Bethnal Green is a milestone on the road to making these services available to all Muslims in the UK.

“There is now choice on the high street for Muslims who want current accounts and mortgages that meet the requirements of Islam. We’re proud to be able to give these customers something we know they will value.”

The current account offers no credit interest and no overdraft facility but provides a debit card and unlike other Sharia-compliant accounts, does not charge a fee or require a minimum balance.


Paving the way for instant offers

They said it would never happen but Rightmove is poised to introduce an automated valuation system that could herald instant mortgage offers next year, says Frank Eve

Amber appoints development manager

Christian Rolfe has taken up the post of development manager for Amber providing sales coverage in the southern region of the country.Rolfe has a wealth of experience in the mortgage sector, having worked within both packaging and lending markets in the past.He says: “I am looking forward to developing strong relationships with intermediaries and improving […]

Guaranteed and GHL launch near-prime products

As a recently merged company, Guaranteed and Genesis Home Loans has announced the launch of two semi- exclusive, near-prime products funded by Lambeth.Being one of only two mortgage providers with access to the new schemes, Guaranteed/Genesis will offer these products to their network of appointed representatives via their joint packaging facility based in Maidstone, Kent.The […]

I will lead push to boost ASU uptake

The small minority of brokers who moan about the concept of Treating Customers Fairly annoy me. The Arthur Daleys do not belong in our industry. But without going so far as to say there are still many Daleys around I wonder if most brokers are treating clients fairly, based on the decrease in ASU sales. […]

Brexit and the mid cap buying opportunities

Video update from Mark Martin, Head of UK Equities, Neptune Investment Management With the Brexit referendum scheduled for 23 June, how much risk is priced into the market and is the current volatility a long-term buying opportunity? Watch Mark Martin, Head of UK Equities, and Holly Cassell, Assistant Manager on the UK Mid Cap and […]


News and expert analysis straight to your inbox

Sign up