Islamic Bank of Britain has completed its first finance deal in Scotland for Al-Meezan. Al-Meezan is a Glasgow -based non-profit, non-political organisation according to the press release issued by IBB. The Shari'ah compliant transaction is valued at £400,000 and allows Al-Meezan to complete renovation and extension work at its premises and includes refinancing of the credit for the initial building works. Al-Meezan is said to provide Islamic education to over 600 women, children and teenagers in Glasgow and its surrounding areas. Sultan Choudhury , managing director, of IBB said, "IBB has pioneered the development of Islamic commercial property finance in Scotland . With organisations struggling to access business finance we expect continued interest in our offering, particularly in Scotland where there is a growing interest in Islamic and ethical finance."
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