HSBC Amanah Current Account

[yas245]

What is the difference in HSBC's Amanah Current account and a Conventional Natwest Current account that doesent incur any interest ???

[Colonel_Hardstone]

What is the difference in HSBC's Amanah Current account and a Conventional Natwest Current account that doesent incur any interest ???

Money from your conventional NATWEST Account can be invested into anything (Halal or Haram), bank then keeps the profit and doesn’t give you. In other accounts you can choose to turn down the Interest (earned) but that doesn’t take the fact away that the primary investment can be in Haram. Money from AMANAH Account CANNOT be invested into anything Haram (as deemed by the scholars of Shariah Panel).

[yas245]

Brother

[dawud.beale]

What about Islamic Bank of Britain?

http://www.islamic-bank.com/islamicb...ome/1/Home.jsp

even if you money is invested in a halal way, your money still makes money for HSBC which is a haram organisation as it deals with interest. Islamic Bank of Britain means your money supports muslims rather than kuffar. Also you can earn "profit" on your savings in Islamic of Britain because they have made it for teh intention of muslims (HSBC and others were worried so rushed out an interest free account which is basically a con).

Does anyone have issue with earning propfit with islamic Bank of Brtain? I have never heard anything but Allahu alim.

[Colonel_Hardstone]

What about Islamic Bank of Britain?

http://www.islamic-bank.com/islamicb...ome/1/Home.jsp

even if you money is invested in a halal way, your money still makes money for HSBC which is a haram organisation as it deals with interest. Islamic Bank of Britain means your money supports muslims rather than kuffar. Also you can earn "profit" on your savings in Islamic of Britain because they have made it for teh intention of muslims (HSBC and others were worried so rushed out an interest free account which is basically a con).

Does anyone have issue with earning propfit with islamic Bank of Brtain? I have never heard anything but Allahu alim.

W-Salam,

1) HSBC Amanah program (in general) pre-dates Islamic Bank of Britain so they couldn't have rushed out

2) Islamic Bank of Britain gives profit while HSBC Amanah Account doesn't

3) Islamic Bank of Britain deals primarily in commodities while HSBC Amanah doesn't and has no plans to.

So the two Accounts are different.

[yas245]

Is this the same with Lloyds TSB's Islamic account ??

[Colonel_Hardstone]

Is this the same with Lloyds TSB's Islamic account ??

Yes the accounts are the same and Islamic Bank of Britain are now using Lloyds TSB Islamic Mortgage and selling their product.

[dawud.beale]

Cud you provide evidences for when the Amanah came out and the IBB came out please rather than stating things as dead facts with no shred of proofs.

If teh shariah says that youare not allowed to deal in commoditiees then Im not aware of this and earning profit is also ok so you are sayng Islamic Bank of Britain is good then brother?

Basically if you invest your money in HSBC whether its a "halal" bank or not your money is still invested in a haram corporation because they deal in interest and not to mention you earn no profit on your cash so your money is stagnant. The Islamic Bank of Britain is the only choice for muslims in my oppinion. If anyone thinks differently feel free to shed some light on this inshallah.

Get ur mortgage wit IBB inshallah. Close ur accounts wit the kuffar and open one wit the mu'mineen inshallah. If its too much hastle then you need to reevaluate your iman and wonder why you convince yourselves into taking the easy route even if it may not be pleasing to Allah.

And Allah Subhanu wa t'ala knows best and may he guide us all to the truth. Amiin

[Colonel_Hardstone]

Cud you provide evidences for when the Amanah came out and the IBB came out please rather than stating things as dead facts with no shred of proofs.

If teh shariah says that youare not allowed to deal in commoditiees then Im not aware of this and earning profit is also ok so you are sayng Islamic Bank of Britain is good then brother?

Basically if you invest your money in HSBC whether its a "halal" bank or not your money is still invested in a haram corporation because they deal in interest and not to mention you earn no profit on your cash so your money is stagnant. The Islamic Bank of Britain is the only choice for muslims in my oppinion. If anyone thinks differently feel free to shed some light on this inshallah.

Get ur mortgage wit IBB inshallah. Close ur accounts wit the kuffar and open one wit the mu'mineen inshallah. If its too much hastle then you need to reevaluate your iman and wonder why you convince yourselves into taking the easy route even if it may not be pleasing to Allah.

And Allah Subhanu wa t'ala knows best and may he guide us all to the truth. Amiin

Asslamo Allaikum Brother,

1) HSBC Islamic Finance was established around 1998

http://www.hsbcamanah.com/1/2/ALL_SI...ut-hsbc-amanah

…HSBC Amanah is the global Islamic financial services division of the HSBC Group. Established in 1998, with more than 300 professionals serving the Middle East, Asia-Pacific, Europe and the Americas, HSBC Amanah represents the largest Islamic financial services team of any international bank….

2) Islamic Bank of Britain was APPROVED BY FSA around 2004

http://www.islamic-bank.com/islamicb...ome/1/Home.jsp

…By November this year, the bank will operate nationally via telephone and postal banking and will also offer Sharia’a compliant current accounts with debit cards and consumer financing agreements. Subject to regulatory approval, the bank plans to introduce a mortgage product by the end of the year and an internet banking service in the early part of 2005…

3) The “Home Purchase Plan (Islamic Mortgage) from Islamic Bank of Britain was launched in April 2009

http://www.financemarkets.co.uk/2009...purchase-plan/

4) The “Home Purchase Plan (Islamic Mortgage) from Islamic Bank of Britain is actually from LLOYD S TSB and here are their details for you to contact and find out.

http://www.islamic-bank.com/islamicb...ome/1/Home.jsp

http://www.islamic-bank.com/islamicb...F8D95FCD6F92D6

[dawud.beale]

ok brother maybe your right but I still dont want my money propping up the UK economy so I choose to keep my money in ISlamic Bank of Britain which is the best in my oppinion because its suporting muslims and may even act as dawah to kuffar. Allahu alim