Pink Home Loans has been given full authorisation from the FSA to deal with Home Purchase Plans, otherwise known as Islamic funding.
"At the end of 2007 the FSA signalled its support for developing the UK as a European Centre for Islamic Finance and we are pleased to be able to support its growth by offering the specialist sector to our network members and their clients," says Neil Hoare, sales and marketing director at Pink.
Hoare adds that the firm was one of just a few networks within the UK to have permission to deal with Islamic finance.
Rashid Khaliq, director of Islamic Financial Solutions in Glasgow, is one of Pink's appointed representatives who is authorised to deal with Islamic Funding. In collaboration with Islamic Bank of Britain (IBB), it is to launch the first Home Purchase Plan in Scotland.
Khaliq comments: "Islamic Finance is an exciting place to be just now. With products in the top quartile of the whole market, the prospects look good. We are looking to provide our services throughout the UK and are pleased to be working with Islamic Bank of Britain to help lay the foundation of IBB's Home Purchase Plan in Scotland."IFAonline
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