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Thursday, 12 June 2008

UK: Shariah-compliant savings plan launches today

By Sam Shaw

Alburaq is launching what it claims to be the UK’s first Shariah-compliant capital protected savings plan as an alternative to a guaranteed equity bond.

The product aims to give investors access to uncapped returns linked to shares in 20 major companies, with capital protection.

It launches today, with a close date of 5 September over a five year term.

Minimum investment is £500 and maximum is £1m.

The account is provided by the Bank of Ireland.


(Investment Week)

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