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Originally Posted by me283
Whilst it is usually difficult to open a bank account in a given country as a foreign national, I have not heard of it being impossible. However, Lloyds have picked up on the fact the British Indians (whatever that term means) will be able to open accounts with ICICI, which is an Indian bank. Now, I might be reading this wrong, but if someone is British, then by what has been implied, ICICI will not give them an account; if they are Indian they will. Which means that British Indians as a term is a bit of a misnomer.
Looking at it from a different perspective, they state that "Customers wanting to use the service must first open an account with Lloyds TSB, which will then open a second account on their behalf with ICICI". However, if they only have to prove Indian descent, then the service is also technically open to people who are British.
Another interesting point in the article is the mention of Lloyds TSB having recently launched an "Islamic current account". What the Hell is that?! I thought Islam was a religion?
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Muslims have different banking rules (they can't charge interest amongst others, so Muslim banks make their money through other charges). I would imagine it is a bank account that abides by these rules. I'm sure you could set one up if you wanted to.
Regarding the Indians, it may not have to do with the account, but with the mortgage and taking money out of the country.