Unequal Banking: UK Muslims Disproportionately Denied Access to Financial Services
The Muslim Council of Britain (MCB), the largest representative body for UK Muslims, has written to Prime Minister Rishi Sunak, Chancellor Jeremy Hunt, and opposition party leaders demanding the protection of universal banking rights.
In the letter, MCB Secretary General Zara Mohammed noted that successive governments have ignored the issue of banks withdrawing services from British Muslims, and the practice has persisted "without adequate transparency and recourse for those affected."
"We urge for an impartial review that not only addresses the mechanisms behind bank account closures but also examines why British Muslims are disproportionately affected by this issue."
The Financial Conduct Authority has identified Muslims as the only faith group likely to be "unbanked" in Britain, and the MCB's intervention follows the closure of Nigel Farage's bank account by Coutts, a prestigious private bank for the wealthy, because of his political views.
This incident led to the resignation of chief executives at NatWest, Coutts' parent company, and the commencement of an independent review into the targeting of Farage.
However, Muslim faith-based charities and pro-Palestine solidarity groups say that they have been subject to bank closures for years due to their political views without a significant response from politicians or the press.
Fadi Itani, CEO of the UK-based Muslim Charities Forum, stated that charities have been facing bank closures for over two decades and are often "over-policed" by banks and their policies.
"This typically happens with organisations working in more sensitive regions where there is a higher security risk, but we've found this to be extended to a much wider definition, creating an unfair burden for charitable organisations to work with," he told Middle East Eye.
In 2015, the Palestine Solidarity Campaign had its bank account with the Co-operative Bank closed with no further explanation given other than “the bank’s risk appetite".
Source: agencies
