Islamic Bank

[Hook Shot]

Islamic Bank ~15p (60ish market cap)

Keeping an eye on the Islamic Bank of Britain........ anyone have any comments ?
Ideally potential or actual customers- though not exclusively.

In my experience banks only get bigger - and given the early stage of development ..... it seems like a good long term opportunity...

Any thoughts ?

HS

 

[Pippppin]

I assume they do not pay interest, which is forbidden in Islamic Law. Does that mean that they do not charge interest either? In which case a mortgage with them sounds attractive...

 

[hornblower]

I understand that islamis banks do not pay / charge interest
so how do they make money ?

I see we posted at the same time , and the same thoughts

 

[Hook Shot]

I understand that islamis banks do not pay / charge interest
so how do they make money ?

I see we posted at the same time , and the same thoughts

http://www.islamic-bank.com
This might help..

http://www.islamicbankingandfinance.com

 

[tbroker]

ISLAMIC BANK (IBB.L) was initially uique. But now is a victim of it's own success, as it's services have been immitated by all major banks. Since it's launch in late 2004 share price rose to high as 80p, but now faces stiff competition from likes of HSBC'S Amanah Finance , andLloyds tsb to West Bromwich Building Society .

thus IBB's has to diversify and we need to know what their long term strategy is.

as for islamic mortgages:

the customer chooses the property and agrees a price with the vendor in the normal way. The property is then purchased by the financier, who takes its legal title. The property is then sold onto the customer at the original price, with payment spread over an agreed period of time. During that time, the customer also pays the financier rent for the use of the property. Once the agreed period of time has elapsed, ownership of the property is transferred to the customer.