Lloyds TSB Islamic current account offered across UK
www.moneynews.co.uk > General finance > Lloyds TSB Islamic current account offered across UK
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Money News |
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Lloyds TSB Islamic current account offered across UK
Mon 19th Dec 2005
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A total of 32 branches will offer the services to Muslims after a successful pilot project carried out since February showed that the service was feasible. Islamic law prohibits the payment and receipt of interest.
Paul Sherrin, head of Lloyds TSB Islamic financial services, said that the bank was proud to offer Muslims a "real choice on the high street".
He added: "We are offering products which not only meet the needs of Muslims, but are also truly competitive. The fact we are expanding the pilot is testament to the popularity of our Islamic financial services so far."
The new current account has no interest and no overdraft, but does not charge fees or require a minimum balance.
The Lloyds TSB current account and home finance services have been through a testing process that involved consultation with religious scholars.
Related News : General finance |
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Related News : LloydsTSB |
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