MUSLIMS LIVING in Britain will this week for the first time ever be able to invest their money in an Islam-friendly pension fund after HSBC announced it will become the first bank to offer a fund which complies with Islamic law.
The Times says the HSBC Life Amanah Pension Fund will not hold shares in any companies that are unacceptable to Muslims. This includes investment in breweries and distilleries, casinos, publishers of pornography, producers of pork products, tobacco and conventional financial services. The fund has been approved by an independent panel of Islamic scholars, said Julian Lyne, the head of institutional pooled funds at HSBC Asset Management. WHILE THIS week may look bright for Britain's two million Muslims, house owners could be bracing themselves for a dramatic property crash if the predi...
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