'It doesn't work' Icelandic chief accused of high-income earner denied supermarket loan

Managing Director of Iceland Slams Supermarket Loans

Frozen food giant Iceland has offered customers $100 million as part of a new financial scheme amid the financial crisis. We plan to offer interest-free loans. Cost of Living Crisis.Supermarkets have already successfully piloted this scheme, with managing director Richard Walker saying repayments were manageable and loans passed background credit checks for customers who However, financial adviser Saleem Shafi has expressed concern about the initial credit check of the loan scheme, saying that the flaws in the system could make it difficult for Iceland to "define to whom" it will lend money. He suggested that it could mean that he was "getting the best of me". In a confusing twist, Mr. Walker himself also confessed to being rejected from his own loan scheme after completing the required soft credit checks.

In Good Morning Britain, Shafi, deputy CEO of debt advice charity Money Buddies, said: If there's a bit of cherry-picking going on here.

"I did a soft credit check myself and believe it or not, it was rejected. 

" I was told it was unlikely to be accepted. 

"Very interesting to see who is really playing this card." 54}