Alburaq debuts sharia-compliant capital-protected savings bond in UK

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Provider of Islamic home finance Alburaq has released the first retail sharia-compliant alternative to a guaranteed equity bond for investors in the UK. The Alburaq savings plan is a five-year account provided by the Bank of Ireland and structured in line with the Islamic principles of Wakala. The plan returns initial capital and 100% of any growth in a basket of 20 shares in global companies selected from the Dow Jones Islamic Titans 100 index. The index comprises the 100 largest companies in t

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