Financial and Banking News
REGIONAL BANKING
Bank of England to Prevent Establishment of Islamic Banks
A statement by the Governor of the Bank of England on 2 October makes it clear that no licenses will be issued to Islamic banks in the UK. Speaking to the Arab Bankers Association, Mr. Robin Leigh Pemberton pointed out that a central feature of British banking law was that of capital certainty for depositors, while the essence of Islamic banking, although subject to different...
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