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LLOYDS BANK CURRENT ACCOUNT
Islamic Account
This account is no longer available. If you already have an Islamic Account, this page will continue to provide you with information about this account.
Features and Benefits
- Shariah-approved banking
Following the guidance of Islam is an important part of everyday life, so we've made it an important part of everyday banking. Our Shariah committee of two independent scholars has guided us to create an account that’s right for you.
- Banking in accordance with Shariah
There’s no credit or debit interest, no arranged overdraft, no minimum balance required and no charges for everyday transactions.
- Your money used wisely
You can be confident the money you keep with us will not be used for any interest-based or non-Shariah approved activities.
Keep in mind
- Not available to new customers
This account is no longer available for new customers. Existing Islamic Account holders can still take advantage of the benefits and features listed below.
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Mufti Muhammad Nurullah Shikder
Mufti Muhammad is a Managing Director of Alhuda Shariah Advisory Services Limited. He spent over a decade in his capacity as Executive Vice President and Head of Shariah at Gatehouse Bank and was the former Chairman of the Shariah Supervisory Board of the bank. During his tenure he has seen the growth of the bank from its birth in 2007 as an Islamic investment bank until he left in 2019. He was responsible for all aspects of Shariah advisory, Shariah compliance, Shariah audit and training.
Prior to joining Gatehouse Bank, he spent a number of years with Dubai Islamic Bank (DIB) in the Shariah Coordination Department. Prior to DIB, he worked for HSBC plc in London and as a law lecturer. He was ranked among the Worlds’ leading scholar by FAILAKA (2008), and received the ZAKI BADAWI Award for Outstanding Young Shariah Advisory (2009). He also advises various financial institutions in the UK and overseas and are member of their Shariah Supervisory Boards.
Mufti Muhammad is an Islamic Jurist and English qualified lawyer. He studied Shariah including Arabic language and literature, Fiqh, Usul al-Fiqh, Tafseer, Hadith (including the six most famous books), and completed the Shahaadatul Aalamiyyah and obtained BA/MA (Islamic Theology) from Darul Uloom Al Arabiyya Al Islamiyya, Bury, UK. He subsequently spent another year at the same institution specialising in Fiqh. (Islamic Jurisprudence).
Mufti Muhammad holds LL.B (Hons), Postgraduate Diploma in Professional Skills, and LL.M (Master of Laws) in Banking and Finance Law (University College London, UK).
Sheikh Nizam Yaquby
A member of the Shariah Committee for several Islamic financial institutions across the world, Sheikh Nizam Yaquby has received a BA from McGill (Economics & Comparative Religion), a Ph.D in Islamic Law and is based in Bahrain. He has been a Professor of Tafsir, Hadith and Fiqh in Bahrain since 1976 and is the author of several articles and publications on Islamic finance in English and Arabic.
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With so much choice, take a look at our other current accounts to see which account suits you best.
Important legal information
Lloyds and Lloyds Bank are trading names of Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
We may monitor or record telephone calls to check out your instructions correctly and to help us improve the quality of our service. Calls from abroad are charged according to the telephone service provider’s published tariff. Not all Telephone Banking services are available 24 hours a day, 7 days a week. Please speak to an adviser for more information.
Account opening is subject to our assessment of your circumstances. You must be 18 or over to apply.