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Ummah Finance première banque islamique mobile

Ummah Finance

Mariage de la finance Islamique et de la Fintech, Ummah Finance proposera l’ensemble des services d’une banque conventionnelle à travers une banque 100% digitale qui associe sécurité, accessibilité et conformité à la Sharia.

Basée à Londres, la startup Ummah Finance est actuellement en phase de levée de fonds et de recrutement de ses équipes.

L’application Ummah Finance sera compatible iOS et Android et disponible sur App Store et Google Play.

Source : Le Journal de la Finance Islamique

© RIBH. Reproduction de l’article autorisée sous réserve de conserver les liens et la signature ci-dessus.

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Publié par le avril 19, 2017 dans FinTech, UK


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La Banque d’Angleterre crée un fonds de liquidité pour les banques islamiques

Banque islamiques en Angleterre

La Banque d’Angleterre travaille depuis plus d’un an sur la faisabilité de la création d’une facilité de liquidité Sharia compliant. Cette démarche s’inscrit dans le cadre de sa stratégie visant à élargir les sources de liquidité pour le marché interbancaire et afin d’améliorer la position de Londres comme hub de la finance islamique pour attirer les opérateurs du Moyen Orient et d’Asie du Sud Est.

Partant du constat que les banques islamiques ne peuvent recourir aux facilités basées sur l’intérêt dans le cadre du Sterling Monetary Framework, et afin de permettre à ces institutions d’assumer leurs obligations de liquidité Bâle III, la Banque d’Angleterre a entamé en 2016 une consultation auprès des banques anglaises Gatehouse Bank, Bank of London and the Middle East BLME, Qatar Islamic Bank QIB UK, Al Rayan Bank (ex Islamic Bank of Britain IBB) et des opérateurs financiers nationaux et internationaux concernés.

Sur la base du feedback recueilli, et au lendemain de l’enclenchement du Brexit, la Banque d’Angleterre vient de publier un document complémentaire de cette consultation dans lequel elle confirme son intention d’établir une facilité de dépôt Charia compatible basée sur un fonds de type Sukuk, et où elle fournit des détails sur les aspects techniques de cette mise en place.

La Banque d’Angleterre sollicite l’avis des institutions et professionnels à propos de ce document intitulé “Shari’ah compliant liquidity facilities: establishing a fund based deposit facility”, les commentaires devant être transmis par email avant le 23 mai 2017 à

BoE mail

La Banque entamera la mise en place de cette facilité après examen et analyse des avis recueillis.


Consultation paper, April 2017

Sur le même sujet : Le Maroc aura son marché interbancaire participatif

Source : Le Journal de la Finance Islamique

© RIBH. Reproduction de l’article autorisée sous réserve de conserver les liens et la signature ci-dessus.

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Publié par le avril 9, 2017 dans UK


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Islamic finance still active in the UK as the credit crunch deepens

alburaq_pic keith-leach-alburaq Keith Leach

UK’s economy is seeing a further deterioration, with a deepening recession, banking bail-outs and big-name retailers going bust. However, one sector of the market still active is Islamic Finance which is now both cheaper and more accessible. Most recently, alburaq, a UK Islamic ‘mortgage’ provider, has responded to interest-rate cuts by improving its range of Shari’ah-compliant Home Purchase Plans.

‘Our new product range means our new customers now have products priced from the equivalent of 5.49% on their home finance,’ explains Keith Leach, Head of alburaq. He continues: ‘The new year could bring even lower rates for our customers. If rates continue to fall as predicted, from March 09 many of our customers could be paying a rate equivalent to 4.5% or less.

In addition to the improving prices, there are plenty of other advantages for those choosing alburaq’s Islamic alternative. Recently, banks have been criticised for varying margins; imposing collar rates and reducing the range of mortgage products they offer. ‘Collar rates’ have made the headlines recently as many mortgage holders have discovered to their cost that their mortgage payments will not fall inline with the general drop in rates.

alburaq works very differently, as Leach explains: ‘When applying for a mortgage, the public would be well-advised to study carefully what margin will be applied, for how long it is guaranteed and whether there is a ‘collar’ rate. One of the distinguishing features of our products is that we fix our margins so these are clearly known from the outset and we don’t have a ‘collar’ on our rates. In addition, we don’t tie-in our customers for when we offer incentives, like fees assisted or cashback offers. We also allow unlimited overpayments, which isn’t always available with other Islamic or conventional mortgages.’

Leach continues: ‘Unlike many of the UK banks, we continue to offer a full range of products and we are still offering buy-to-let finance – which has almost disappeared from the conventional market.’

About alburaq

Alburaq is a brand name belonging to ABC International Bank plc (a subsidiary of the Arab Banking Corporation), a major Middle-Eastern banking group in which government agencies of Kuwait, Abu Dhabi and Libya have significant share-holdings. ABC was founded in 1980, and is headquartered in Manama, Bahrain. The Group has a well-established international network including offices in Paris, Milan, Frankfurt, London and of course the Arab world. ABC Group is one of the largest banks in the Arab world, with assets totalling approximately US$33 Billion (December 2007).

Islamic banking is a faith-based system of financial management, which derives its principles from the Shari’ah – Islamic ethics derived from three sources: the Holy Qur’an, the Hadith (sayings of the Prophet Muhammad pbuh) and the Sunnah (practices and traditions of the Prophet Muhammad pbuh).

For Muslims, giving or receiving interest (known as ‘Riba’ in Arabic), is strictly forbidden. All of alburaq’s products are free of from Riba, and operate in accordance with Shari’ah principles. Prior to launch, all alburaq products are reviewed by a Shari’ah Supervisory Committee (SSC), composed of respected Islamic scholars. Products are only launched once their structure and associated contracts have been approved by the SSC.

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Publié par le décembre 28, 2008 dans UK


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Islamic Bank of Britain (IBB) launches dedicated website for advisers and brokers


The Islamic Bank of Britain (IBB) has launched a dedicated website for mortgage advisers and IFAs which offers Sharia compliant home purchase plans and commercial property finance.

The website aims to enable advisers to re-sell IBB’s Sharia compliant products, with registered intermediaries able to submit leads and applications to the bank online, track the progress of deals and access printable copies of product literature.

Registration to the site is free and subject to compliance checks. However, only agents who are Financial Services Authority (FSA) regulated for the home purchase plan can use the full application and tracking service.

Intermediaries can introduce business to IBB in two ways: the referral of basic customer contact details, which pays a 0.2 per cent procuration fee for completed business; or a completed online client application, which pays a procuration fee of 0.35 per cent.

Advisers are also offered support from regional sales consultants who can guide agents through the application process and explain how IBB’s products differ from conventional finance products. The bank also has a dedicated helpline for intermediaries.

Sultan Choudhury, the commercial director at the IBB, said: « Our unique position, as the UK’s only Islamic Retail Bank, has meant we have remained largely insulated from the credit crunch. « As a result, British consumers are increasingly considering products such as the home purchase plan. »

Source: FT Adviser, December 16, 2008

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Publié par le décembre 16, 2008 dans UK


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The global financial crash and a sustainable future for humanity, London Conference – December 13, 2008


Global Vision 2000 the independent international think-tank is hosting an emergency conference on the Global Financial Crash and a sustainable future for humanity ». This will take place all day on Saturday 13th December 2008 in London at 43 Lancaster Gate. An emergency conference is being called to address the unprecedented « black swan » event of the unfolding global financial crash. All attempts by the Government are failing to resurrect a bankrupt financial sector and the financial collapse will deepen with more bubbles expected to burst and impacting severely on the real economy. The economy is being haemorrhaged, asset prices are plunging, banks are insolvent, mass unemployment stalks the land and social strife beckons.

It is time to ask what is really going on ? The conference will be presenting an unique diagnosis and prescription which the Government, politicians and media need to heed. There needs to be a dialogue with those who have a holistic, radical and sustainable prescription for finance, the economy and society. As we are fast facing the final or finest hour of humanity there is a need to move to nothing less than an « Universal Paradigm shift » which liberates our money, banks and economy from neoliberal free market fundamentalism, financial usury capitalism, bankers and debt bondage.

The UK’s leading monetary reformers and sustainability experts will be gathering to present radical solutions, solutions which address the fundamental causes as opposed to symptoms. Bailouts to those who have caused the problem in the first place is an outrage and partial nationalisation will not do. So what needs to be done for the common good? You are invited to end the dialogue of the deaf, dumb and blind as we will not get out of this prolonged crisis until fundamental change inherent in a paradigm shift is envisaged.

Canon Peter Challen, Daud Pidcock, Muhammad Rafeeq, Alistair McConnachie, Tarek el Diwany, Jamal Harwood,  Nafeez Ahmed,  Dr.Irfan Alawi,  Dr.Mustafa Ali,  Francis Malleady, Roy Tindle and Robert Corfe will be making powerful presentations as a community of collaboration presenting viable alternatives which need to move from the fringe to the mainstream. Daud Pidcock will be launching his magna carta « The other Road to serfdom » and Robert Corfe his « Social Capitalism ». This movement is destined to gather momentum and you are invited to listen and pay heed and become part of the solution rather than the problem. Join your hands and lend your ears for the day with us.

The Editors

Full details of the conference (Pdf)

For further details :
Contact : Tel. : 07818 082011 or 07988785331
Email :

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Publié par le décembre 11, 2008 dans UK


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