Advise on my investments (noob)

[swhnly65]

As Salaamu Alaikum

So I’m based in the UK and have a gatehouse account (instant access at 4.9% aer). I also have a HSBC Islamic Global Index S&S ISA, however I’m concerned with using HSBC as they do support and help arm the Israeli occupation.

I suppose I have two questions, is Gatehouse for my savings the best option? Need a savings pot in case of emergencies so don’t want to ‘invest’ these.

Also what better alternatives are they to HSBC S&S ISA? I use Hargreaves Landsdown and ideally want stocks that are on their platform as I’m new and don’t really like changing. The ISA has performed well (up 11% but only invested a small amount in the last year)

Kazam Allah Khair for any advice

 

[elitecheapjersey]

@swhnly65 I would advice staying away from interest at all costs. Perhaps invest in stocks etc but anything interest related we should draw a line as Muslims

I hope this helps habibi

 

[swhnly65]

@elitecheapjersey There’s no interest. The gatehouse account pays you in providing a share of the profits in the money they invest in using your money. That’s why it’s AER rather than APR as it stands for Annual Estimated Returns

 

[elitecheapjersey]

@swhnly65 Ah right, can you lose money on AER as well? Recently I started investing in crypto etc that could be another thing you could do if you aren’t already

 

[rahenson]

@elitecheapjersey In the UK there are 100% guaranteed Sharia accounts which have an "expected profit". The "profit" is at risk, but the capital is protected by the government.

 

[elitecheapjersey]

@rahenson So when you say protected.. means you can’t lose the money?