Lloyds TSB has launched an Islamic retail mortgage product for British Muslims. It is one of a range of financial services that Lloyds plans to launch for the Muslim community in the UK – many of whom have taken a traditional, interest-based mortgage or choose not to buy their own homes for religious reasons. The home finance offer follows Lloyds’ launch in February 2005 of an Islamic current account and complies with Islamic law (Shariah), which forbids both the payment and receipt of interest, known as Riba. Instead of lending money for a property, the bank will buy the home, contributing up to 90 per cent of the purchase price. The customer will pay the remaining percentage upfront and would repay the outstanding sum over an agreed term, together with a rental payment.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more