Islamic Bank of Britain backing West Midlands business
Birmingham-based Islamic Bank of Britain (IBB) has pledged its support for businesses in the West Midlands.
The bank said it wanted to encourage forward thinking and excellence in the region.
It said a recent demonstration of its support had been the West Midlands Chartered Accountant of the Year Awards, organised by the West Midlands Region of the Institute of Chartered Accountants in England and Wales.
Sultan Choudhury, the bank’s commercial director, was invited to present the award to the best practice with up to five partners, which was won by Bloomer Heaven.
He said: “IBB is delighted to be supporting local businesses through such a prestigious organisation such as ICAEW.
“We are further delighted that Bloomer Heaven won this award; as a forward thinking and established local business, the firm is a shining example of accountancy excellence in the West Midlands.”
The IBB has pioneered Sharia’a-compliant retail banking in the UK and has launched a wide range of products, including current accounts, savings accounts and personal finance.
The bank was also the first to introduce Sharia’a-compliant Business banking to the UK, and now offers a wide range of institutional and business banking products and services, including commercial property finance.
Several of the bank’s products remain unique in the UK retail market, for example its Sharia’a-compliant personal finance and Sharia’a-compliant savings accounts.
Sharia’a-compliant banking operates without the use of interest. The products that are offered are structured in a different way to those provided by conventional banks