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Shari&#39ah-compliant funds on sale via internet

Islamic investment information website Islamiqis opening a fund supermarket which will be dedicated to Islamic invest- ment funds.

Using its internet portal Islamiqstocks.com, a range of Islamic investment funds will be made available through the supermarket, which is to be called Islamiqfunds.

Islamiqfunds hopes to change the widely held perception that Islamic funds are only suitable for big institutions and high-net-worth individuals.

The supermarket will be aimed at a much wider investor base and will open up access to a broader range of products.

Islamiq currently offers access to 18 structured funds which are compliant with Islamic Shari&#39ah law, with more expected to be added to the site during the quarter.

The fund supermarket service is supported by Towry Law, which will provide customers with independent financial advice and a client account service.

The founder of Islamiq, Dr Hasnita Dato Hashim, says: “This is another opportunity where Islamiq can offer a pioneering service to Islamic investors at a time when an increasing number of Muslims are looking at Shari&#39ah compliant investment opportunities.”

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