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   P534    Teletext   534 Sep02 21:02:52

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 ISLAMIC INVESTMENT BANK PLANS UK LAUNCH

                                        

 The European Islamic Investment Bank   

 has applied to the Financial Services  

 Authority for authorisation to begin   

 operating in the UK.                   

                                        

 It hopes to receive approval in the    

 first half of 2006. It is planning a   

 range of investment banking products   

 for Muslims compliant with Shariah law.

                                        

 The Islamic Bank of Britain began UK   

 operations a year ago, offering current

 and savings accounts.                  

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