UK: Launch of investment for Muslims

Article Abstract:

iHilal, the finance platform, aims to offer investments that are compliant with Shariah - Islamic law. Muslims are not permitted to receive fixed interest payments, therefore the group will offer unit trusts which can be viewed as partnerships. The company hope to include a range of financial products such as Sipp, Isa or Pep is also likely to attract non Muslims who seek ethical investments. The venture is backed by Rasmala Islamic Finance of Dubai, Accenture Technology Ventures and Deutsche Bank.

Product introduction, iHilal

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UK: 51% OF INVESTORS PREFER TO BUY ADVICE

Article Abstract:

A survey of over 500 people who telephoned the Unit Trust Information Service of Autif, indicates that 51% of investors would rather pay a charge for advice than use advisors whose income is based on commission. Not many respondents wanted to pay more than GBu 80 for advice. The average amount considered reasonable was a flat fee of GBu 72 or GBu 41/hour. Some 86% of those who bought investment products in 2000 took advice first. The preferred channel of distribution was through discount brokers.

Marketing procedures, Debt & Equity Securities, Unit Trust Information Service

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