Low barrier ethical investing option for Islamic Australians launched

Islamic financial services provider Meezan Wealth Management has launched a low-cost digital investing solution to remove obstacles to ethical investing for the wider Islamic community in Australia. 

The portfolio is managed by Lifespan Financial Planning’s investment committee and is underpinned by Melbourne-based investment platform, OpenInvest.

Meezan said the solution, called Meezan Invest, would revolutionise the way Islamic Australians can invest and dramatically improve access to investment portfolios certified as Sharia-complaint. 

Until now, Islamic investors have had to invest at least $50,000 to access an Islamically compliant investment portfolio, which could be charged fees as much as 2.5 per cent per annum and often had to wait a month or more for redemptions. For  

With Meezan Invest’s Islamic Growth model portfolio, the minimum investment is only $5,000, with lower fees.