“The Muslim community is one of the fastest growing in the UK and is very much part of the fabric of British life.” OK, but how far will British authorities and businesses go to accomodate Sharia for this growing community?
For similar US developments, see here.
From The Guardian, with thanks to the Constantinopolitan Irredentist:
Lloyds TSB today announced the launch of a current account that adheres to Islamic rules on finance.
The account has been designed to comply fully with Islamic law, or sharia, which forbids the payment and receipt of interest, or riba. As such, the account will not pay interest on credit balances or have an overdraft facility.The funds held by the bank on all shariah-compliant accounts will also be held according to Islamic law. Under shariah, Muslims are not allowed to invest in companies related to certain types of industry, such as alcohol, tobacco, pornography, armaments and gambling….
Gordon Rankin, current accounts director at Lloyds TSB, said: “The Muslim community is one of the fastest growing in the UK and is very much part of the fabric of British life. However, until now their banking needs have been largely uncatered for and many British Muslims have often had to bank in a way that is against their principles.”