The inevitable result of Shariah-compliance… Lloyds Bank has been accused of religious discrimination after offering free overdraft accounts to Muslims. While many will have to pay up to £80 a month if they go into the red, Muslims were told they would escape the charges. The document said: “We are removing the monthly overdraft management […]
An investment fund called the Mashreq Arab Tigers Fund has announced that it will convert to becoming a Shariah-compliant fund and change its name to the Mashreq-Al-Islami Arab Tigers Fund. This isn’t particularly newsworthy, but the article linked below affords us a teaching moment. That’s because the operators of the fund recognize ahead of time that, in […]
