Home » Premier Customers Offered Enhanced Shariah Compliant Mortgage To Finance High-End Properties

Premier Customers Offered Enhanced Shariah Compliant Mortgage To Finance High-End Properties

News From : DagangHalal.com (06 Jun 2009)

Islamic Bank of Britain has announced the launch of its Premiere Banking service, available to customers in the UK and overseas.

The Premiere Banking service has been designed to meet the strong demand from affluent and High Net Worth individuals looking for a more personal banking service and tailored, Sharia’a compliant products that can accommodate their specific financial requirements.

IBB’s Premier Banking service will provide customers of its select service with, a personal banking service, Premiere Banking facilities through a dedicated office in London, experienced multilingual staff and access to a higher amount of property finance, starting from GBP 250, 000 and up to GBP5 million per client.


The Premier service is being launched with the immediate availability of an enhanced version of IBB’s flagship product, the Home Purchase Plan (HPP), a Sharia’a compliant mortgage alternative. The HPP has been tailored for IBB’s Premier Banking customers and now offers finance of up to GBP 5 million per client enabling individuals to purchase property at the higher-end of the market.

Commercial director at Islamic Bank of Britain, Sultan Choudhury said: “IBB is delighted to announce the launch of its Premier Banking service.

“Banking is about exceptional service and trust which IBB provides to all of its customers. In addition to this Premier Banking customers are offered a tailored, personal service through a dedicated Personal Relationship Manager who understands their specific needs and helps to manage customers’ finances in a profitable, ethical and Sharia’a compliant way.

“Further, we have tailored our Home Purchase Plan to accommodate the needs of our more affluent clients looking for Sharia’a compliant home finance for properties at the higher-end of the market.”

Mr Choudhury added: “The Bank provides the assurance that its source of funds for the HPP is 100% Sharia’a compliant; IBB will not use any interest bearing instruments like bonds or derivatives to finance customers’ properties. It will instead use its own funds or the deposits from its customers, all managed purely on a Halal and ethical basis.”

Premier Banking customers will have access to IBB’s full range of HPPs for new and existing homeowners. Rental rates start at a competitive 3.99% with a low administration fee of only GBP 299, for its fixed product.

Source:The Asian News

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