Canadian Muslim investors seek Shariah-compliant RRSPs

CBC News – February 27, 2012 The deadline for RRSP contributions is nearing, but there’s another important investment concern for Muslims — ensuring the products they rely on for their retirement income comply with Islamic principles. With nearly a million Muslims in Canada, forming nearly three per cent of the country’s population, there has been…

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International Financial Centres Battle for Islamic Markets

International investment services compliant with Islamic financial law are competing for a slice of the oil revenue in the Middle East. With the price of crude oil almost doubling in the last year, countries with large Muslim populations and connections – including Singapore, Hong Kong, London, Birmingham and Paris – are vying to act as…

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    Lloyds TSB introduces Shariah-compliant money transfer account

    UK high street bank Lloyds TSB has launched a Shariah-compliant nostro account that enables customers to transfer money around the world in line with Islamic principles prevents any funds being invested in industries – such as alcohol and gambling – that are prohibited under Islam. Lloyds TSB says the account, which is aimed at the…

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