Words of Wisdom - the Editor

Peace.
Got busy with a new project. So couldn’t add more news. Although I came across a fine article by a brother on the history and future of Islamic Banking. I was surprised to know that Islamic banking had beginnings in 1975. Wow. That’s almost as early as my birth. And I guess if there are enough like minded people any idea is bound to grow. I too used to wonder if I can invest without plunging into interest based transactions.

UK I noticed is taking some fine initiatives to promote Shariah Finance. Also came across a western brother or atleast who calls Muslims his brothers and sisters but laughs cynically at the DOW Islamic index as 'bending backwards' to accommodate those guys who have four wives and cut of peoples hands. O well some people just don't get it, do they?

Friday, February 6, 2009

Paradigm to distribute Sharia-compliant products

Paradigm Mortgage Services has teamed up with the Islamic Bank of Britain (IBB) to be the distributor for its Sharia-compliant products.
Paradigm members will now have access to IBB's complete range of products, which are suitable for both Muslim and non-Muslim customers and cover both personal and business customers. 
Personal products include current and savings accounts, personal finance and IBB's Sharia-compliant mortgage alternative, the Home Purchase Plan. Business products also include current and savings accounts, plus business and commercial property finance options.
Bob Hunt, chief executive of Paradigm, said: "We are delighted to announce this formal link-up between Paradigm and IBB which will provide our members with access to the products IBB currently offers."
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