Lloyds TSB has expanded its Islamic banking operations with the opening of four more Islamic banking branches across the country today.
Shariah, or Islamic law, forbids Muslims to receive interest on their savings, making it difficult for Britain's two million Muslims to use traditional banking services.
The new Islamic banking branches is Slough, Walthamstow, Stevenage and Barkingside join the 12 branches that are already in existence, and more are set to open before the end of the year.
These branches all provide current account and home finance services to Islamic banking customers.
Commenting on the new Islamic banking branches was Gordon Rankin of the bank's Islamic Financial Services: "There is now a real choice on the high street for Muslims who want an alternative to conventional current accounts and mortgages and we're proud to be able to give these customers something we know that they will value."
He added that these Islamic banking products not only meet the needs of Muslim customers, but are also competitive.
"The fact we're expanding the pilot is testament to the popularity of our Islamic financial services offering so far," he said.
Lloyds TSB expands Islamic banking operations
Financial Services > e-banking > Banking news
Lloyds TSB expands Islamic banking operations
Wed, 07 Sep 2005
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