A series of advertisements by Wahed Invest, a Muslim investment company, has been banned in the UK after the Advertising Standards Authority (ASA) deemed them “offensive.” The ads featured images of burning banknotes and sparked significant backlash.

The Controversial Campaign

Wahed Invest, a U.S based halal investment platform, launched a campaign in September and October 2024, displaying posters across London’s transport system. These posters featured well-known Muslim figures, including public speaker Mufti Menk, alongside images of burning U.S. and European banknotes. The slogans “Join the Money Revolution” and “Withdraw from Riba” accompanied the visuals.

The ASA received 75 complaints from the public, claiming the ads were offensive. They noted that many viewers, including citizens from the U.S. and eurozone, would find their national currency culturally significant. The ASA concluded that the imagery of burning banknotes could cause serious offense to some audiences.

Wahed Invest’s Response

In light of the ASA’s ruling, Wahed Invest accepted the decision and acknowledged that their visuals could provoke strong reactions. They explained that the intention behind the imagery was to metaphorically illustrate the impact of inflation on savings, particularly for communities that adhere to faith-based financial principles.

Wahed emphasized their commitment to creating interest-free financial products that promote ethical investing and financial inclusion. They also mentioned that the campaign had been reviewed and approved by Transport for London before the ASA’s ruling.

About Wahed Invest

Founded in 2017, Wahed Invest is an investment platform designed for predominantly Muslim consumers, allowing them to invest in ways that align with their faith and values. The company is backed by Saudi Aramco and French footballer Paul Pogba. Wahed offers an alternative to traditional banking, emphasizing that it operates “totally free from Riba,” or interest, which is forbidden in Islam.

With over 400,000 customers worldwide, Wahed aims to provide halal investment options, as Muslims often seek alternatives to conventional financial products that involve interest.

Political Backlash

Before the ASA’s ban, Wahed’s campaign faced criticism from right-wing figures in the UK. Howard Cox, a former London mayoral candidate from the Reform UK party, condemned the ads, stating they did not align with British culture. Tory London Assembly member Susan Hall also voiced her concerns, urging Transport for London to reconsider the ad’s suitability.

Both politicians made their statements during interviews with GB News, a right-wing news channel that has been criticized for its negative portrayal of Muslims. A report from the Centre for Media Monitoring (CfMM) highlighted a pattern of bias and misinformation in GB News’s coverage of Muslim-related stories.

In response to the report, GB News dismissed the findings as “inaccurate and defamatory,” claiming they were not given a chance to comment beforehand.

Conclusion

The banning of Wahed Invest’s ads highlights the complexities of cultural representation and sensitivity in advertising. As the halal investment sector continues to grow, it faces challenges in navigating public perception and ensuring that its messaging resonates positively with diverse audiences.

Original Article:

5Pillars. (2025, April 26). Offensive halal investment ads banned by UK watchdog. https://5pillarsuk.com/2025/01/09/offensive-halal-investment-ads-banned-by-uk-watchdog/