Fiona Murphy looks at the growing interest in Islamic pension products and SIPP investments
Ask most fund managers what people invest in and they will say equities. Whether through pension or other investments designed to leave a nest-egg for retirement, FTSE 100 companies dominate portfolios and provide the assets under-pinning financial products. But look closer at these companies. Many will have links to activities and products such as alcohol, gambling and entertainment and can be out of bounds to the Muslim client. Aside from strict investment choices, Sharia law also prohibits the paying and receiving of interest for profits- or receiving an increase on a loan. This ru...
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