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Islamic Bank of Britain completes first Scottish business finance deal
by Robin Amlôt
Islamic Bank of Britain (IBB) has completed its first finance deal in Scotland for Al-Meezan, a non-profit, non-political organisation based in Glasgow. The deal for commercial property finance, valued at £400,000, has enabled Al-Meezan to complete renovation and extension work at its premises. It also includes refinancing of the credit for the initial building works, making Al Meezan's finances fully Shari'ah-compliant. As a result, Al-Meezan now has ten purpose built classrooms, a refurbished lecture theatre, a large foyer area, a multi-purpose room, a prayer hall, toilet facilities on both the ground and first floor, a lift and new kitchen facilities.
Al-Meezan provides Islamic education to over 600 women, children and teenagers in Glasgow and its surrounding areas. With growing demand for its services, the renovated premises will allow Al-Meezan to offer more classes in improved facilities.
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