Solihull’s Mayor joins Offa for event celebrating “milestone” acquisition

The Mayor of Solihull, Councillor Shahin Ashraf MBE, recently attended the annual Town Hall meeting of Offa, the UK’s leading faith-based property finance fintech, in Solihull and, in a speech, described the company’s business model as a “force for good.” 

Thanking Sagheer Malik, Offa’s Chief Commercial Officer & Managing Director of Retail Finance, and Sultan Choudhury OBE, Executive Chairman, for inviting her as a special guest to the Town Hall meeting at the Crowne Plaza Solihull hotel [on 22 January], the Mayor said: “At the heart of Offa’s approach is a financial model inspired by a system that is rapidly gaining recognition as a force for good. It actively works to improve social justice, reduce poverty, and promote economic growth. 

“By channelling investments away from harmful industries such as alcohol, tobacco, and the arms trade-and toward productive and socially beneficial sectors, this type of finance helps build a stronger, more sustainable economy.”

The Mayor was accompanied by her consort Jehangir Malik OBE, and was welcomed by Mr Choudhury, who said: “We are privileged to be joined by the Mayor of Solihull who has the inspirational distinction of being the first female Muslim mayor for this great borough.

“We have spent much of today talking about our ethics and principles as a provider of faith-based home finance, so it feels perfectly fitting for us to welcome a community leader who has spread such a positive message of unity throughout Solihull through her words and actions.”

Referring to Offa’s recent acquisition of Bank of Ireland’s Alburaq home finance portfolio, the Mayor said: “Today, we celebrate a milestone that challenges the status quo and redefines how finance can empower individuals and strengthen communities. At the forefront of this transformation is Offa, a leader committed to reshaping the financial landscape with integrity, transparency, and inclusivity.”

The acquisition meant that Offa became the first financial institution ever to buy an Islamic home finance book in the UK. 

Offa provides an ethical finance model designed in accordance with Islamic finance principles, which means not charging interest and not investing in sectors deemed harmful to society – such as alcohol, tobacco, gambling, animal testing, and the arms trade.

Councillor Ashraf has tirelessly represented the Shirley South Ward for the past five years before being elected as Mayor in May last year [2024]. She previously worked in the charity sector and is supporting three charities that are close to her heart during her mayoral term – Marie Curie, OASIS Mental Health Support and Social Life Opportunities.