Pointon York launches Sharia-compliant SIPPs

Sharia law prohibits the charging of interest or fees on money lending, as well as investing in various businesses deemed unethical in Muslim tradition. The SIPPs include a low-cost online product, a single investment vehicle, an individual full SIPP and a corporate SIPP. Through the SIPPs, clients can invest in Sharia-compliant funds which exclude interest-earning transactions and investment in businesses such as pornography, gambling, speculation and tobacco. The products are the first SIPPs to be accredited by the Islamic Bank of Britain (IBB). "The launch of our Sharia-compl...