Madinat al-Muslimeen Islamic Message Board
|iHilal.com Aims to Corner Internet-Based Islamic|
|04/07/01 at 01:01:11|
|iHilal.com Aims to Corner Internet-Based Islamic Financial Market |
Published Friday April 06, 2001
By iviews.com staff report
LOS ANGELES, April 5 (iviews.com) iHilal.com, aiming to be the leading provider of Islamic financial services on the Internet, launched its Web Site this week. (Watch Video)
The company held a gala dinner in Dubai to publicize the Site, and hosted several other community-based events in London and Los Angeles.
"The launch represents our determination to reach all sectors of the Islamic community and to offer them an Islamic alternative to conventional investment practices," explained Thomas Tellner, marketing manager for iHilal USA, speaking to a gathering of Muslim activists and community leaders in Los Angeles.
iHilal is initially offering investment opportunities in three Sharia-complaint mutual funds; these include funds managed by the Saudi American Bank (SAMBA), Orbitex and the National Commercial Bank of Saudi Arabia. The company has also activated its online Islamic stock trading service. Additional Sharia-compliant mutual funds are expected to be offered in the next few weeks, with halal mortgages and Islamic insurance products being offered later this year.
"All of iHilal's products are strictly complaint with Sharia law. Every mutual fund is directly overseen by a Sharia board comprised of prominent Islamic scholars, and our online brokerage service is regulated by an Islamic filter which allows trading only in Sharia-compliant equities." said Tellner.
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