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Unique “Halaal” Savings Plan launched in the UK

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Points of Essence:

  • alburaq, UK’s Home Finance provider launched the Islamic Savings Plan for UK customers.
  • The Shariah compliant product is an alternative to a guaranteed equity bond which allows customers exposure to the stock market in complete harmony with ethical Islamic principles.
  • Under the plan, customers can deposit as little as £500, and get their investment linked to the stock market via 20 shares selected from the Dow Jones Islamic Index. Savers will be entitled to 100% of the capital gain achieved by the plan – whilst enjoying peace of mind that their initial deposit is protected and their investment is in accordance with Shari’ah.

alburaq, the UK’s most innovative Islamic Home Finance provider, has launched a unique savings product for British customers. The new capital-protected Savings Plan is an “Halaal” alternative to a guaranteed equity bond, and allows customers exposure to the stock market in complete harmony with ethical Islamic principles.

Customers can deposit as little as £500, and their investment will be linked to the stock market via 20 shares selected from the Dow Jones Islamic Index. Savers will be entitled to 100% of the capital gain achieved by the plan – whilst enjoying peace of mind that their initial deposit is protected and their investment is in accordance with Shari’ah.

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Written by Suapi Shaffaii

August 13, 2008 at 3:04 am