Ethical Saver Cubes follow strict ethical and Sharia-compliant principles. They’re built using a widely recognised and approved Islamic finance arrangement called Murabaha.
Here’s a quick summary of how it works: Your funds are held by our partner, Standard Chartered Bank, who purchase a permitted commodity (such as precious metals), and subsequently sell it back at an agreed price that includes a profit margin. This agreed profit is what forms your return. There’s no interest involved.
While your funds are held by Standard Chartered Bank they help to support an innovative global portfolio of sustainable projects and companies. Your funds are also never invested in industries considered harmful or unethical, such as alcohol, gambling, tobacco, or arms. This ensures that your savings work in a way that aligns with both ethical finance and Islamic principles.