Sharia finance to be demystified at event in Whitechapel

PUBLISHED: 12:13 12 November 2012

The facts about Islamic finance are to be revealed at a question time event held in Whitechapel on Monday evening.

As part of the “Sharia Finance Question Time” tour, it is one of a series of debates on the subject up and down the country.

It has been organised by the Islamic Bank of Britain, which claims to have received a surge of applications to take advantage of its services during the summer months. The bank hopes that the sessions will demystify Islamic finance, which it says represents a stable and ethical alternative to western financial institutions.

Speaking ahead of the event, Abul Fozoll, who manages the Islamic Bank of Britain’s branch in Whitechapel Road, said: “Interest in Islamic finance is growing.

“It appeals to both existing customers and members of the local community keen to find out how Sharia compliant financial products work.”

The event, chaired by Sharia finance expert Samir Alamad, will outline the way in which the Islamic banking system operates without conventional financial instruments, and with a model of mutual benefit between the customer and the bank.

It will be held at the IBB Whitechapel branch, 97-99 Whitechapel Road, London, E1 1DT on 12th November from 6.00 pm -7.30 pm.

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