Simply Ethical’ s online investment service to be supervised by Shariyah Review Bureau
UK based Simply Ethical, today announces the assignment of Shariyah Review Bureau (“SRB”) to supervise its self-invest platform in a Sharia compliant manner. The subscription based digital platform allows investors to select and automatically manage their portfolios composed of stocks, funds and ETF’s.
Self-invest platforms have expanded rapidly in the UK and have become the main way retail investors are accessing investments. Currently in the UK there is no Self Invest platform that is wholly dedicated to providing Sharia complaint & ethical investments and this is the gap Simply Ethical is looking to fill. The Simply Ethical self invest platform will give investors access to over 100 individual investments and a range of model portfolios that can be purchased and managed in a number of tax efficient vehicles such as pensions.
Simply Ethical has been a leader and pioneer in providing Sharia Compliant Wealth Management and Investment services in the UK. It’s vision is to give Islamic Investors the best possible range of options and access when it comes to Sharia compliant investments, financial products and advice. Furthermore, Simply Ethical is seeking to appeal to ethically minded investors based on the values and principles underpinning Islamic Finance. Faizal Karbani, Chief Executive of Simply Ethical, notes: “This platform is about providing the retail market with access to Sharia compliant and ethical investments so that they can save and invest in an easy and affordable way.” Commenting on the assignment of SRB he adds “they share our excitement about the significant opportunities in the online Islamic investment marketplace. Giving our clients the assurance that our service is Sharia compliant is important and we have therefore decided to assign SRB the role of certifying and auditing our platform for Sharia Compliance”.
For well over a decade SRB has been delivering cost efficient, growth based Sharia certification and Sharia audit opportunities for clients around the world. “Progressive businesses like Simply Ethical recognize that true Sharia compliance experience is crucial to customers satisfaction,” said Yasser S. Dahlawi, CEO and Founder of SRB. “In our role as Sharia Advisor’s, we will go beyond the Sharia review of fund management and investment procedures and develop a robust Sharia screening framework that drive business growth.” He added, “we look forward to helping Simply Ethical embed Sharia compliant frameworks that is powered by best practices into the core of their digital strategy.”