Clause 15
Saving Gateway Accounts Bill
Public Bill Committees, 5 February 2009, 9:00 am
Ian Pearson (Parliamentary Under-Secretary (Economic and Business), Department for Business, Enterprise & Regulatory Reform; Dudley South, Labour)
Certainly, the purpose of the clause is to ensure that saving gateway accounts could be sharia compliant. The hon. Gentleman is right; my understanding of sharia law is that if interest were paid on saving gateway accounts, they probably would not be sharia compliant. That is something that potential providers of sharia-compliant saving gateway accounts could certainly consider. He makes a relevant point.