Islamic Bank of Britain (IBB) has announced the launch of its premier banking service and the opening of its premier banking office in Berkeley Square, London aimed at catering to customers from the Middle East.
The service has been designed to provide a high quality, personal banking service coupled with competitive long term savings options and Sharia’a compliant property finance to customers.
Driven by low property prices and the current favourable US Dollar/Sterling exchange rate, the UK is attracting a large number of customers coming from the Middle East and GCC countries looking to purchase a property, said Sultan Choudhury, commercial director at IBB.
The bank’s premier banking service has been set up to respond to this demand, he pointed out.
IBB, Sultan said, was increasingly becoming a more attractive option for overseas investors, particularly in the GCC and Middle East countries, as it is a more stable alternative to conventional banks.
"The bank provides its premier customers a personal service along with Halal products, including the competitive Home Purchase Plan which is the Sharia’a compliant finance option for property purchases in the UK," he explained.
The customer must have a minimum annual net income of £100,000 ($159,782) to apply for IBB premier banking service available to customers in the UK and overseas, Sultan said.