Islamic Mortgages facility from BOI

hamza salahuddin

Do Bank Of Ireland offers Islamic Mortgages.

I am a Muslim & cannot withdraw a conventional Mortgage since it's not permissible with in Islamic religion , so does Bank Of Ireland provides such facility for the Muslim community living in Ireland.

The conventional mortgage where the purchaser borrows money from a lender which is then repaid with interest, I was wondering does BOI offer any Islamic mortgage like (Home Purchase Plans) that are based upon the Islamic finance principles of a Co-Ownership Agreement (Diminishing Musharaka) with Leasing (Ijara).

I can see Bank Of Ireland in UK introduced a product that cater's this request.The following is the link to it (since I am a new user I am not allowed to insert links that what the page complain about so I cannot insert the link here

Is there anything you guys can do to help me out by offering some Islamic sort of mortgage as I will be very thankful to you.

Also there are bank in UK who offer the same thing (IBB - Islamic Bank of Britian) 

Many thanks
Hamza

Bank of Ireland: Billy

Hi Hamza, 

Many thaks for your post and welcome to Boards.ie

We've sent your query to our Mortgages Department and will come back to you as soon as we have a response. 

Thanks

Billy

Bank of Ireland: Billy

Hi Hamza, 
 
We've just heard back from the Mortgage Department. 

Bank of Ireland does not currently offer Islamic Mortgages however we are committed to delivering products and services where demand exists and constantly review this.

We have forwarded your question as feedback to the Mortgage Team for consideration in future reviews.

Thanks for taking the time to contact us. 

Thanks

Billy
 

eAlie

Hi Folks,

Do we have any update on the Islamic financial services particularly for Islamic mortgages at Bank of Ireland ?

Bank of Ireland: Alison

Hi eAlie

Thanks for checking back on the thread.

I'm afraid Bank of Ireland does not currently offer Islamic Mortgages. We will certainly send your interest to our Mortgage Department.


Many thanks
Alison