ABC International Bank launches Islamic retail unit in the UK
ABC International Bank (ABCIB) has announced the launch of Alburaq, a retail Islamic financial service in the UK. Aimed primarily at the British Muslim community, Alburaq will offer a range of financial products that adhere to Islamic values and comply with Islamic Sharia'a.
The Alburaq brand is already familiar through ABC Islamic Bank's credit card. New products will be introduced over the coming months, including an Islamic 'mortgage' which is also available to help Gulf and other non-UK residents buy property in the UK.
ABC International Bank is the London-headquartered wholly-owned subsidiary of Arab Banking Corporation (ABC), the leading international Arab Banking group. ABC's consolidated total assets are $30 billion and shareholders' equity is $1.585 billion. — (menareport.com)
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