Could your halal pension be funding Israel’s military?
Summary
HSBC’s sharia-compliant fund, which is designed to follow Islamic rules for investing, has invested more than $100 million in companies connected to Israel’s military. This has led to questions about whether Muslim investors’ money is supporting military activities.Key Facts
- HSBC offers a sharia-compliant fund intended to follow Islamic investment guidelines.
- This fund invested over $100 million in companies linked to Israel’s military.
- Sharia-compliant funds avoid certain types of businesses, but connections to military-linked companies raise concerns.
- The issue highlights the challenge of tracking exactly where investments end up.
- The investments were reported by Al Jazeera’s Lina-Serene.
- This situation may affect Muslim investors who want their money to follow ethical or religious rules.
- HSBC is a large global bank managing many investment funds.
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