02-September-2010

Lloyds TSB Islamic bank accounts

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OK...ENOUGH is ENOUGH! I just read in the Daily Mail that Muslims do NOT have to pay any interest on their Lloyds TSB bank accounts if they go overdrawn because Sharia Law (which doesn't apply in the UK) does not allow interest to be charged.

This is what it says on the current account charges section of the Lloyds TSB website - "In some instances, where we do agree to cover that payment by giving you an Unplanned Overdraft you will incur a management fee for us providing and managing this (but you will not be charged interest). This monthly management fee will be £15 and will apply if you have or make use of an Unplanned Overdraft at any time during a monthly billing period." You can find out more information about the product here.

There are hundreds of reader's comments about it in the paper and I'm willing to bet that a large number of current Lloyds TSB customers will be off to close their accounts on Monday morning in protest. But hang on a minute. Isn't it also true.that anyone can open one of these accounts irrespective of religion? In that case are we going to see a load of people heading down to Lloyds TSB on Monday to open an Islamic account? The queues outside the bank will be enormous and the computers will probably crash under the pressure!

I've had a look at the Lloyds TSB website and it certainly seems to be the case that any British person with a regular bank account would have to pay in the region of £200 a month in interest if they go overdrawn with an unplanned overdraft, but a Muslim with an Islamic account is only charged a "management fee" of £15 on those occasions. So once again this country is embracing segregation by implementing a two-tier banking system! This is just what we need to restore our faith in banks!

By: Unabryn

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Why is anyone suprised! its another small step to introducing Sharia law in this country. Get used to it. And it can only caused more problems between muslim and non muslims/

jackiek 11-Aug-2010 22:23

Bash, if Islam teaches that all people are equal then why, under Sharia law, is a man's legal testimony worth that of two women?

incognito 16-Jul-2010 20:14

I'm off to open a Jedi account, light sabres are expensive and under Jedi law we are not allowed to repay loans let alone interest, this is just what I need.

Rider of the Apocalypse 19-Apr-2010 15:32

hi,

Why don't you open an islamic account, you will have less poroblem with overdraws?

Sincerly

marika 19-Apr-2010 15:00

When I visited Egypt I gladly entered into their beliefs and culture out of respect for their religion. I wouldn't have expected it any other way. Is it too much to ask the afore mentioned do the same over here and stop demanding preferential treatment and for firms to stop being bullied into bowing to them for fear of being branded racist? Perhaps we could all then live together in peace.

anonymous 07-Apr-2010 21:40

I want a bank account that follows the Darwinian Laws of Evolution, that is if I deposit 1 penny in such an account will it after a trillion years evolve into a luxury billionaire's yacht, or will it become extinct.

In a British Bank with the present government I expect it will inflate out of existence.

Will Muslims Ever Evolve? 12-Nov-2009 21:03

I am shocked that people still believe what they read in so- called newspapers like 'the Daily Heil'. These rags are infamous for distortion, hyperbole and hate- mongering. Those who want to know the truth about 'the Daily Heil' should visit: www.mailwatch.co.uk/category/immigration/

islamophobiasucks 30-Sep-2009 13:47

Well said. I have only just found out about this "Islamic ( sharia law ) account" I have been with the TSB Bank for 54 years when it was named Municipal Bank. So, apart from being disgusted at the discrimination aimed at every person who is not Islamic, I will have the pleasure of going to the bank to close my savings account ( with a fair amount of money in it ) AND, to tell them the reason why

ben 26-Sep-2009 23:45

I dont think the banks made them to target a specific market, I think they have been forced to create them over presure from being seen as racist. something that in many occassions goes too far in the oppossite direction..

People are now so scared to be called rasict that they over compensate and these ethinic minorities get better treatment than anyone else. ! ! !

Anti Religion 09-Sep-2009 14:19

Anti religion, you're being a bit racist there. I can well appreciate the "when in rome" statement and personally I think the bank accounts should have been called "basic credit only bank accounts" or something similar rather than Islamic bank accounts, although I suspect they wanted to target a specific audience by calling them that.

Ned 09-Sep-2009 13:39

AAA could your own views of the world, be based on reading newspaper articles?

oz 03-Sep-2009 16:28

Can some do better, then get BS from newspapers with articles that are only written to stir up hatred to sell newspapers?

oz 03-Sep-2009 16:26

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Lloyds TSB Islamic bank accounts

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