Kaupthing Singer & Friedlander (KSF) is pleased to announce that it now offers a Shariah-Compliant investment product. 
 
At KSF we are dedicated to providing bespoke Treasury solutions to our diverse client base. Islamic banking and finance is now one of the world's fastest growing sectors, in light of this fact we have developed an investment product which is Shariah-compliant and provides a known profit at the outset.

Product Overview

KSF acts as an agent to act on your behalf for the purposes of buying and selling commodities. Acting in this capacity, KSF purchases an agreed quantity of base metals from a commodity supplier on your behalf. KSF then effects the onward sale of this metal on deferred payment basis at a price that incorporates a pre-agreed profit to you.

Key facts

• GBP, US Dollar or Euro denominations
• Minimum investment amount is £500,000 or equivalent
• Tenors from 1 month to 1 year
• Suitable for individual, corporate, trust and charity accounts
• Our programme is vetted and approved by an independent Shariah Scholar

Mufti Barkatulla Abdul Kadir has reviewed and approved the documentation relating to this programme. A copy of his proclamation (fatwa) is available on request. Mufti Barkatulla Abdul Kadir has been appointed to audit KSF’s operations relating to the programme on an annual basis to ensure continued compliance with Shariah principles as interpreted by him.

Mufti Barkatulla Abdul Kadir is a member of the Sharia supervisory panels for several Islamic financial institutions, including United National Bank, Alburaq of Arab Banking Corporation London, and Lloyds TSB, and Islamic Bank of Britain. 

Points of Note

• This product is unregulated and not covered by the FSCS deposit protection scheme
• This product is backed by KSF, and clients enter into a contract with KSF
• In adherence with Shariah principles, this is a buy-and-hold product that cannot be terminated prior to maturity with no secondary market
• KSF is not a tax adviser. Prospective participants may wish to consider seeking independent tax advice
• KSF is a UK registered Bank which is authorised and regulated by the Financial Services Authority (FSA), and is a 100% subsidiary of Kaupthing Bank hf