"A British firm has launched a Sharia-compliant pension fund that will enable Muslims to save for retirement in compliance with Islamic principles.
The British government will begin offering Muslim workers Sharia-compliant pensions as of 2012. The launching of the funds, which are said to be structured around a strict code of ethics and based on the Muslim Koran and Islamic Sharia law (a religious code for living), reflects the gradual establishment of parallel Islamic financial and legal systems in British public life.
Pointon York, an independent financial services company based in Leicestershire in central England, announced on June 6 that it will begin offering four Sharia-compliant Self-Invested Personal Pensions (SIPP) products that do not bear interest nor invest in companies that trade in alcohol, gambling, pornography, tobacco or weapons, in conformity with Islamic law.
The growth of Islamic finance comes as other aspects of Sharia law are becoming enshrined in the British legal system. At least 85 Islamic Sharia courts are now operating in the country, almost 20 times as many as previously believed. A recent study by the London-based Civitas think tank titled "Sharia Law or 'One Law for All'?" found that scores of unofficial tribunals and councils regularly apply Islamic law to resolve domestic, marital and business disputes, many operating in mosques. It warns of a "creeping" acceptance of Sharia principles in British law.The study follows outcry over remarks by the Archbishop of Canterbury, Dr Rowan Williams, who has argued that adopting parts of Islamic Sharia law would help maintain social cohesion in Britain. He also said: Sharia law in Britain is "unavoidable."However, if you are NOT a mozlem, you cannot participate in this tax-payer rip-off!!
Read the rest here: Middle East and Terrorism: Britain Creating Parallel Islamic Financial System