The ground-breaking service is in response to the company’s own research which revealed a potentially vast untapped market and demand for this type of leasing.

The award-winning asset finance and business loans specialist, which already has a significant Muslim customer base, was alerted to the potential of Shariah compliant leasing through its own social media activities.

It had already picked up on the growing interest in the Shariah markets and, prompted by the social media traffic, decided to investigate the size of the market within the UK and response to the product.

“We found that many larger organisations are focused on international business coming into the UK, whereas British Muslim SMEs and entrepreneurs have mostly been overlooked,” says Managing Director Maria Lewis.

Because of its many successful working relationships with British Muslim clients 1PM, which picked up Small Cap Company of the Year and Small Cap Director of the Year awards last year, also possesses valuable insight which has led to the launch of the new service.

“We recognise the dilemma they face when they want to raise funds for their business through Halal (permissible) means without compromising on their religious values, and to avoid any Riba (interest),” explains Maria.

“We intend to facilitate that growing market with Shariah compliant leasing that adheres to their principles.

“Consequently we have engaged scholars and Shariah experts to prepare our compliant documentation and who will continue to monitor it on a regular basis.”

The trail-blazing addition to 1PM’s portfolio is just another of the many reasons this company has proved to be so successful.

It prides itself on listening carefully to clients’ requirements so it can tailor finance deals to their specific needs.

Specialising in providing small business loans and asset finance between £1,000 and £50,000, the experienced 1PM team is happy to do all the hard work on clients’ behalf.

Formed in 2000 by two former finance brokers, it was listed on AIM in 2006 and, following a management shuffle in 2010, its market cap rocketed from £2m to £36m and it became a £1.6 million profit maker.

All the more remarkable since many of its successes were achieved in the face of one of the toughest recessions in living memory.

“In 2009 we had reduced funding and sales and witnessed high levels of bad debt, so turning the things around were very challenging,”Maria acknowledges.

“But the last 12 months alone have seen our sales double and we are recruiting additional staff to meet the continued demand and, when all’s said and done our greatest asset is our staff.

“They have made 1PM the success it is today.”

To find out more about 1PM’s Shariah compliant leasing and its other services go to www.1pm.co.uk. Alternatively telephone 01225 474 230 or email sales@1pm.co.uk