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My son's Child Trust Fund (CTF) voucher has been automatically invested in a non-Islamic account. I have been looking into making use of this voucher in an Islamically acceptable investment for my son (if possible). I believe there now is a Shariah compliant CTF account offered by the Children's Mutual - 'The Shariah Baby Bond'. They have a Shariah Advisory Board. Before I proceed and transfer my son's CTF account to them, can you please advise if this Shariah Baby Bond is actually 'Shariah Compliant', based on your knowledge.
The web site address of this service is thechildrensmutual.co.uk
Your comments would be greatly appreciated.
Answer
I have known about this Shariah compliant bond for some time and it is right that you should transfer your present bond to this one. The Shariah advisory board includes reputable scholars. The main issue for the Muslim is that investments not be made in companies that are involved in trade considered unlawful by the Shariah, and this is what this bond ensures.