In depth: Personal view - Islamic pension funds in the UK: is the idea bigger than the market?

Pensions Week, June, 2009

Byline: Usman Hayat

A Muslim investor seeking Islamic or sharia-compliant investments has the same need for retirement planning as any other investor with similar circumstances. The difference is that he wants investment choices that are not in conflict with his religion, including an Islamic pension fund.

In the UK, despite the growth of Islamic financial services and Islamic funds in general, there has been little activity on the pension side since the launch of the first Islamic pension fund in 2004, which was geared towards the UK's estimated two million Muslim population. This has led to the question of whether the idea of Islamic pension funds is bigger than the market in the UK. Leaving the market size number-crunching aside, let me share a...

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