How about this Guys? Comments welcome.

[Dedworth]

Hopefully the Honkers and Shankers HSBC won't end up in the same boat as the ill fated Pakistani run BCCI.

I respectfully disagree with Englishman this cannot be dismissed as an ethnic asian line. It is is an Islamic product with the danger that as a thin end of the wedge in a stealth like manner it will become the only offering for the majority along the lines of Halal meat in Kentucky Fried Chicken outlets and school canteens.

If we are not careful attached to each Crown Court Building there will be a shariah court and over the road a Chop Square (although I'd more than likely go along with the latter )

No thank you HSBC

[Englishman2010]

Hopefully the Honkers and Shankers HSBC won't end up in the same boat as the ill fated Pakistani run BCCI.

I respectfully disagree with Englishman this cannot be dismissed as an ethnic asian line. It is is an Islamic product with the danger that as a thin end of the wedge in a stealth like manner it will become the only offering for the majority along the lines of Halal meat in Kentucky Fried Chicken outlets and school canteens.

If we are not careful attached to each Crown Court Building there will be a shariah court and over the road a Chop Square (although I'd more than likely go along with the latter )

No thank you HSBC

Fair comment Ded

Islamic mortgages have been on offer in the UK for about 10 years through several niche lenders and more recently The Islamic Bank of Britain. In reality, the amount of Islamic mortgages taken up by Muslims is very small. The majority take out traditional western style interest charging mortgages as the monthly repayments and set up costs are usually significantly lower.

Personally, I feel that the decision by HSBC to offer them in the UK is a marketing trick to keep it's Asian and Middle Eastern shareholders happy, by making them look like the global bank that caters for the needs of every culture. I suspect that this type of lending will make up less than 1% of their overall new business mortgage lending in 2012.