alburaq launches UK 'Halaal' savings plan

The Islamic provider says the capital-protected savings plan is a ‘Halaal’ alternative to a guaranteed equity bond. Customers can deposit £500 to £1m, with their investment linked to the stock market via 20 shares selected from the Dow Jones Islamic Index. The initial deposit is protected and savers will receive 100% of capital gained through the plan. The investment is also in accordance with Shari’ah. Keith Leach, head of alburaq says: “Our research has shown that, whilst the Muslim community highly values property as a means of wealth generation, there is also a desire for alter...