UK mobile phone insurance company, Foneshield will, in a few week's time, launch a mobile phone insurance scheme that is compliant with Sharia law. The decision to launch the product was made after the company completed a survey in which a number of questions were posed relating to ‘ethical' policies.
"Sharia compliant products are one of the fastest growth areas of the financial sector - evident in the recent issue of Sharia compliant Government bonds . In addition, they also compel us to meet an excellent ethical standard for our business and the respective insurance product. We are very excited about being the first in Europe to offer it as an option," said Amian Moaven, Director, FoneShield UK Ltd
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