Wednesday 22, January 2014 by Matthew Amlôt

Islamic Bank of Britain launches UK's first Shari'ah compliant cash ISA

Islamic Bank of Britain plc (IBB), the UK’s only wholly Shari’ah compliant retail bank, today announced the launch of the IBB Notice Cash Individual Savings Account (ISA).  The account is the UK’s first Shari’ah compliant cash ISA and offers consumers an Islamic, tax-free way to save.   It means that Muslim consumers who prefer to receive a Shari’ah compliant return on their savings no longer need to miss out on the tax efficient benefits of an ISA, or compromise on their beliefs by placing their deposits in interest-based products.

Features & Analyses