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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Islamic Bank offers 4pct profit on 2-year fixed term savings

Posted on 26 July 2012

The Islamic Bank of Britain (IBB) is offering a new two-year fixed term deposit savings bond that pays an expected profit rate of four per cent.
As an Islamic Bank, the IBB does not pay interest to savers. Instead the rate of four per cent is offered to investors as an “expected profit rate” which deliver a profit over an agreed period, in this case 24 months………………………………………..Full Article: Source

 
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