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CML seeks easier access to Islamic loans

The Council of Mortgage Lender is calling on the Government to remove barriers to Islamic mortgages.

It says although Shari&#39ah-compliant mortgages already exist, legal hurdles make them relatively expensive, but with 3 million UK Muslims, there is a significant potential market for Islamic mortgages.

It says members of the working party convened under the Bank of England and the CML will shortly be meeting with the financial secretary to the Treasury Ruth Kelly MP to seek support to make regulatory changes.

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