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Saturday, 7 July 2007

Profile 017 - Alburaq - UK


"Alburaq's roots are the same as those of the Arab Banking Corporation, one of the most respected banking names in the Arab and Muslim world and one of the largest international Arab financial institutions. ABC's principal shareholders represent the governments of three Muslim countries (Abu Dhabi, Kuwait and Libya), and it is a natural step for an institution with these origins to aspire to see Islamic banking and finance grow, particularly in non-Muslim countries where large Muslim populations exist, such as the UK, France, Germany and USA. ABC has its headquarters in Bahrain and has a widespread network of subsidiaries, affiliates and representative offices throughout the Arab world and Europe, including ABC Islamic Bank (E.C.) in Bahrain and ABC International Bank plc in London, the home of alburaq. With alburaq, we aim to be the premium provider of retail Islamic banking services. We will work hard to introduce a range of financial products, to provide Muslim communities with the financial services they need in their everyday lives. Our products will be fairly and competitively priced and, most importantly, adhere to Islamic values and comply with Islamic Shariah. We will consult both with a Shariah panel of world-renowned scholars and those familiar with local community needs. Our desire is about more than just creating financial solutions for Muslims. We believe that by developing the best products, they will appeal to everyone, regardless of religion. As part of our quest, we believe in helping to educate not only our customers, but also the wider population, in the principles of Islamic finance and about the major contributions eminent Muslims have made to our modern world."

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