BNZ

Sharia finance a growing market but NZ banks not acting yet

Sonny Bill Williams could find his rugby career curtailed if he refuses to support any sponsorship that runs contrary to his Islamic religion. Williams covered the BNZ logo on his collar in his first game for the Blues. Williams has lodged a conscientious objection in his contract to finance companies, banks, alcohol companies, tobacco companies and gambling companies. According to Victoria University religious studies professor Paul Morris, the rugby player's conscientious objection was valid if cleared with the sponsor and the management of the team. Islamic Women's Council spokeswoman Anjum Rahman said Williams was making a statement and it was a valid choice. New Zealand Bankers' Association CEO Karen Scott-Howman said banks were constantly responding to customer preferences. However, the banks do not see the demand for Sharia-compliant banking in New Zealand.

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