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Muslims to be offered Sharia-compliant pensions by Government
by Martin Beckford
Muslims are to be offered Sharia-compliant pension funds by a new Government body.
The scheme to provide retirement funds for millions who do not already have a company pension is likely to include a special option that would not invest in companies deemed sinful under Islam.
Ministers are keen to get Muslims saving with the Personal Accounts Delivery Authority, as many who have low-paid jobs or who have moved to Britain in recent decades are unlikely to have put away much for their old age.
The decision to provide a Sharia-compliant pension fund is another sign of the growing influence of Islamic law in British public life and in particular the country's finance industry.
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