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.
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.
Douglas Murray, director of the Centre for Social Cohesion think tank, said the Government should not be creating parallel financial or legal systems for different groups in Britain. He said: “It’s a great mistake for the Government to think this is desirable or even necessary.”