Clause 15
Saving Gateway Accounts Bill
9:00 am
Ian Pearson (Parliamentary Under-Secretary (Economic and Business), Department for Business, Enterprise & Regulatory Reform; Dudley South, Labour)
Indeed. I am not a sharia theologian. [Laughter.] That is abundantly obvious to the Committee. Sharia compliance is a judgment to be made by a theologian. It would be up to those theologians to decide whether the accounts were sharia compliant. It is too early to say whether or not account providers will offer sharia-compliant accounts. Ultimately, that is a commercial decision for them to make and it would be up to the sharia theologians to decide whether a bonus is compliant with sharia law or not.