Muslims keen to comply with the financial strictures of religious Islamic law may be able to buy Premium Bonds for the first time after a government review announced yesterday.
Ed Balls, the Treasury Minister in charge of City affairs, wants all types of government-sponsored savings products to be accessible to those who adhere to Sharia.
Premium Bonds, a favourite among small savers for 50 years — with the numbers that decide the winning bonds generated by a machine called "Ernie" — will be among the National Savings products to be tested for suitability. All other National Savings accounts will also be examined.
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