The Islamic Bank That's Escaping the Downturn; in Association with WWW.Wilkes.Co.UK LEGAL BANKING Western Chaos Is Prompting Interest in Other Methods

The Birmingham Post (England), February 18, 2009 | Go to article overview

The Islamic Bank That's Escaping the Downturn; in Association with WWW.Wilkes.Co.UK LEGAL BANKING Western Chaos Is Prompting Interest in Other Methods


Byline: TOMS COTNEY Legal & Finance Editor

A Midlands firm of solicitors has set up a new department to deal with the booming Islamic finance sector.

Alsters Kelley, which has offices in Coventry, Leamington and Nuneaton, is providing legal advice in support of Sharia-compliant financing, which has become far more popular in recent years.

Sharia-compliant financing is based on Islamic laws which forbid charging or receiving interest on money and this had led to it being seen as a more reliable form of doing business, as loans cannot be made without tangible collateral.

Nadeem Yousef, of Alsters Kelley, believes Sharia-compliant finance is becoming increasingly popular. He said: "The British Treasury approved Sharia-compliant financial products such as mortgages and investments a couple of years ago and Islamic banking has been on the rise ever since.

"Recently, a growing number of non-Muslims have also been turning to Islamic banking because customers made wary by the chaos in the Western banking system see this sector as being largely insulated from the credit crisis.

"In the past, many of our clients have faced the difficulty of raising finance - usually for the purchase of a property or business venture - in a way that is compliant with Sharia law.

"That's why we have set up a department to deal specifically with these requirements.

NatWest has recently launched Islamic Sharia commercial property mortgages while HSBC has been offering a wide range of Islamic finance products for some time.

"The Midlands, with its multicultural population and strong ties with emerging markets in India and China, can be a real champion of this type of finance but it's critical that there is a full and proper understanding of how Sharia finance works. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

The Islamic Bank That's Escaping the Downturn; in Association with WWW.Wilkes.Co.UK LEGAL BANKING Western Chaos Is Prompting Interest in Other Methods
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.