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Halal-compliant investing: Reader's thoughts

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Hi Holly

 

Firstly, I always look forward to reading your articles each week, and I'm happy to see that you mentioned Shariah investing.

As a Muslim, I have been waiting for a Shariah compliant product. I emailed all the robo advisers (Nutmeg, Wealthify, etc) as well as Hargreaves Lansdown and Fidelity to find out if they offer Shariah compliant funds, and they all replied "No".

HL and Fidelity actually do offer one (called Oasis Crescent), but I suppose as they don't have a "filter" on their website for Shariah funds, they are unaware of this.

I believe this is a major growth area, especially with my generation now coming through and becoming more aware of investing. Our parents generation who came to the UK mainly went to unqualified jobs, and the only investment they know and do is Property. The vast majority would not have a stocks and shares ISA or a pension.

Although Shariah investing has been slow to take off, I strongly believe it will really take off. With Wahed Invest entering the market in the UK, I suspect the other big boys will now be seriously looking into Halal-compliant investing.

 

Kind regards,

Haydar K.

 

Read next: What is Halal-compliant investing?

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What is Halal-compliant investing?

This week, just in time for Eid, Wahed Invest has launched the UK’s first FCA-approved Halal robo advice platform. It’s got a £100 minimum, excludes nasties like tobacco, weaponry, excessive risk, adult entertainment, alcohol and so on. It also invests in Islamic bonds and gold. So far, so admirable. We explain a bit about Halal, Shari'ah and what a Halal investment strategy means in practice.

What is Halal-compliant investing?

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