British Muslims Face Debanking Discrimination

Muslim Council of Britain Calls for Review

The Muslim Council of Britain (MCB) has called for an impartial review of bank closures following reports that Muslim individuals and groups in the UK are facing frequent account closures and refusals for no clear reason. The MCB has expressed concern that this "debanking" phenomenon is disproportionately affecting the Muslim community.

Coutts Fiasco Highlights Extent of Debanking

The recent Coutts fiasco involving former UK Independence Party (UKIP) leader Nigel Farage has highlighted the extent of the debanking issue. Farage claimed that Coutts had closed his account without providing a satisfactory explanation, leading to speculation that he had been targeted for his political views.

Financial Conduct Authority Finds No Evidence

However, a preliminary review by the Financial Conduct Authority (FCA) has found no evidence to support claims that banks are disproportionately closing Muslim accounts. The FCA stated that it would continue to monitor the situation and investigate any specific allegations of discrimination.

Banks Ruin Lives with Debanking Policies

Despite the FCA's findings, British Muslims continue to report that they are being denied banking services and having their accounts closed without explanation. These closures can have a devastating impact on individuals and businesses, making it difficult to access basic financial services and manage their finances.

Need for Impartial Review

The MCB maintains that an impartial review is necessary to fully understand the extent of the debanking phenomenon and its impact on the Muslim community. The review should examine the reasons for account closures, assess whether there is evidence of discrimination, and recommend measures to address the issue.