UK: Wahed Invest’s advertising campaign, which featured images of burning US dollar and euro banknotes, has been ruled to breach advertising standards. The advertisements, displayed on the UK’s Transport for London services in September and October 2024, were intended to promote Halal investment options in line with Islamic principles, particularly opposing the charging of interest, Wahed noted.
The Advertising Standards Authority (ASA) upheld complaints from 75 individuals, who argued that the depiction of banknotes burning in flames could be seen as offensive, where the currencies are considered symbols of national identity.
Despite Wahed’s defence that the imagery symbolized money losing value due to inflation, ASA concluded that the advertisements were likely to cause serious offense. The ruling mandates that Wahed not run the advertisements again in their current form.
