LLoyds TSB's "Islamic Account"

[OrphanBoy]

http://www.lloydstsb.com/current_accounts/other_accounts.asp
http://www.lloydstsb.com/current_accounts/islamic_account.asp
second one down. How is this different to a normal account?! What does a "Shariah approved" product involve?

/genuinely interested, not taking the ****

 

[NightmareXX]

HSBC have something like that as well. **** knows why -.-

 

[caff]

Islamic accounts aren't a new thing, you know.

Probably more ethical than most.

 

[Muffin`]

Calm down dear ... http://money.uk.msn.com/investing/articles/nicklouth/article.aspx?cp-documentid=4753179

 

[apeZ]

:/

 

[starfighter]

I don't understand it fully but in Islam it isn't considered good to make a profit from lending people money or something so interest is bad.

But I have no idea how Muslim banks work. do they just take the interest or do they lend it to Muslims at a low rate? in which case I a Muslim. gimme money.

EDIT: seeems i am quite wrong as usual.

 

[Nitefly]

http://en.wikipedia.org/wiki/Islamic_banking

 

[Mr-White]

The accounts don't receive interest, banks must love them

MW

 

[OrphanBoy]

Calm down dear ... http://money.uk.msn.com/investing/articles/nicklouth/article.aspx?cp-documentid=4753179

Yikes, no interest! I can't see how loans work though. What's in it for the banks? How are they making money like this?

 

[Muffin`]

Yikes, no interest! I can't see how loans work though. What's in it for the banks? How are they making money like this?

The goverment covers the interest for the period of the loan

 

[Kennysevenfold]

makes me sick.!

 

[Nitefly]

makes me sick.!

What does? You are not outraged that there are islamic bank accounts, are you?

 

[Kennysevenfold]

What does? You are not outraged that there are islamic bank accounts, are you?

Of course, there just taking over tbh.

 

[Missing.String]

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They're taking over because they have bank accounts..? :/

 

[dangerstat]

What does? You are not outraged that there are islamic bank accounts, are you?

I can't see whats wrong with expecting BRITISH banks to offer only BRITISH STANDARD accounts.

 

[mangobreeder]

I know islamic mortgages work like

you pay off the principal with no interest, then you are charged a "rent"

same thing different name

I can't see whats wrong with expecting BRITISH banks to offer only BRITISH STANDARD accounts.

welcome to 2009 not 1809

 

[SideWinder]

What does? You are not outraged that there are islamic bank accounts, are you?

If he is, thats racist!

 

[Nitefly]

Of course, there just taking over tbh.

Hahaha, that is just pathetic

 

[N$X]

Of course, there just taking over tbh.

i feel you have more to say, dont hold back.

 

[Kennysevenfold]

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They're taking over because they have bank accounts..? :/

all the small things like this adding up, kfc in london offering a halal menu, islam lessons for them only in schools etc

if there in this contry, they should abide by out laws. we should not have to change things to suit them