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Britain's first Islamic insurance company given stamp of approval by FSA
The Asian News
BRITAIN'S first independent Islamic insurance company has received authorisation by the Financial Services Authority (FSA).
Principle Insurance will provide unique, shariah-compliant (or halal) motor and home insurance to British residents from later this year.
It will be the first independent shariah-compliant insurance provider in Britain and will meet the needs of the country's estimated two million Muslims.
Principle chairman, Mr Abdulaziz Hamad Aljomaih said: "I believe Principle will go some way in altering the perception of Islamic Finance in the UK, by showing that progressive, sensible and profitable businesses can be established in accordance with Islamic law.
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