Insurance polices offered in keeping with religious beliefs

Date: 20/10/2008 15:00

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Insurance policies in keeping with people's religion are increasingly being offered in the UK.

The Financial Times reports that the last few months have seen residents in cities such as London, Leeds, Birmingham and Cardiff receive leaflets to do with car insurancethat is "halal friendly".

Bradley Brandon-Cross, chief executive of Principle, said that the idea of Islamic finance was "growing globally" and that Muslims had been "making do" with products not empathetic with their beliefs.

The article claims that those who live in poorer regions of the UK have had "fewer choices to do with insurance than those who live in financially better off areas."

Islamic compliant insurance policies could include the pooling and investment of policyholder's contributions in shariah-compliant businesses - those will no link to any activities prohibited to Muslims, such as gambling, drinking or the viewing of pornographic material.

A number of insurance companies have released Islam-compliant policies.
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