Tuesday, 3 April 2007

Another good example of the free market in action

Lloyds TSB have announced they will provide Islamic business accounts, which conform and adhere to Sharia law.

This is a good example of the free market in action. Lloyds TSB have noticed a demand for services and are creating the supply to meet it. Their competitors, like HSBC, Barclays, RSB, etc. may soon follow suit, since they may lose market share.

The beauty of the free market is that it can cater for niche needs and desires. This is something that government is always inept at doing.