HSBC pulls Sharia compliant products - Banking - News |

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

HSBC pulls Sharia compliant products

HSBC pulls Sharia compliant products

Category: Banking

Updated: 10/05/2017
First Published: 05/10/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

HSBC will no longer offer Islamic mortgages, loans and bank accounts following a review of its business.

The Times reported that the bank will withdraw its Sharia compliant deals for personal customers in the UK , Bahrain , Bangladesh and the United Arab Emirates .

HSBC began offering Sharia compliant mortgages in 2003 and was the first nationwide high street bank to do so.

"Sharia mortgages are a very small business line for us in the UK ," said a spokesman. "This is part of a strategic review of all our businesses."

What Next?

Find the best mortgage rate - Compare best selling mortgages

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.