Ethical Finance

What is Ethical Finance?
In general terms ethical finance is a general term for a method of funding, whether on a personal on a commercial basis, which has at its core an ethical or moral code or set of defined beliefs.

This ethical code can essentially be whatever the funders want it to be, whether it is religious in origin (for example Islamic financing or Christian based financing models) or secular, but it will have some core principles which the organisation complies with when applying its funding (e.g green and other environmental financing).

Why is pro.manchester interested in this sector?
The project aims to identify whether this sector presents any additional opportunities for the North West Financial and Professional sector.

North West Experience of Ethical Finance
Manchester currently houses one of the world's largest banks which has, since its foundation back in 1872, provided personal and commercial funding facilities on an exclusively "ethical" basis. The Co-operative Bank (and Co-operative Financial Services) represents a significant success story for the North West in terms of its Financial and Professional sector's ability and reach worldwide.

Back in 2008, the NWDA provided seed capital for one of the country's first regional green financing funds-Foundation. To read more go to www.climatefund.org

Islamic Finance has at its core a fundamental requirement that the project which is to be funded using an islamic finance model must comply with Sharia and in so doing must have a purpose which complies with the ethical and social requirement of Sharia.
The Islamic Bank of Great Britain was established in London in 2004 and a branch was later opened in Longsight providing exclusively Islamic Finance products.

Additionally and unique to the North West there is the North West Ethical Finance Facility which provides Sharia compliant funds, working in partnership with the Islamic Bank of Great Britain. www.bbvonline.net/ethicalfund.asp


Where do Members come in?

Take part! we're keen to actively engage with our Members to understand their first hand experiences of working within any of these three ICE niche markets to determine what the issues are in breaking into or operating within those markets; or just to hear your views generally. Click here to get in touch.

Please click here for list of useful links relating to Ethical Finance