Pointon York has launched four Sharia-compliant SIPPs for Muslim savers, available only through advisers.
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...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
