Lloyds TSB are offering
students an
Islamic bank account for those wanting to have their finances in accordance to Islam.
In order to comply with Islamic Sharia law, the
student bank accounts do not pay or charge
interest on the accounts.
Furthermore, assets held in the student
bank accounts are forbiden to be invested in
gambling or alcohol related industries.
Lloyds TSB is the first bank to offer such a student account. Lloyds TSB has been offering customers Sharia compliant mortgages,
loans and other financial services since 2005.
For Islamic Student Account customers, the
overdraft is Shariah approved and interest free. The money held in these accounts is managed in a Shariah approved way.
However, students are informed that other loans,
credit cards and
insurance services are not Shariah approved.
student finance UK - for students, by students 
