
Six adverts for an Islamic funding platform displaying banknotes on fireplace have been banned after a regulator dominated they had been more likely to trigger critical offence.
The posters for Wahed Make investments, seen between September and November on Transport for London (TfL) companies final yr, featured US greenback and euro banknotes on fireplace.
The Promoting Requirements Authority (ASA) obtained 75 complaints that the advertisements had been offensive.
Wahed Make investments mentioned its intention was to “spark thought and consciousness” and acknowledged the ASA’s suggestions on using worldwide forex.
The adverts featured pictures of Muslim preacher Ismail ibn Musa Menk and Russian former skilled combined martial artist Khabib Abdulmanapovich pointing at giant textual content stating “Be a part of the Cash Revolution” above Wahed’s brand.
Three of the posters confirmed Mr Menk holding an open briefcase crammed with US greenback and euro banknotes on fireplace, with two of them stating “Withdraw from Exploitation” and “Withdraw from Riba”.
Wahed mentioned the burning of banknotes inside the adverts was designed to point out cash “going up in flames” when inflation grew quicker than the speed of financial savings.
Image of nationwide identification
Wahed describes itself as an funding platform permitting shoppers who’re predominantly Muslim to spend money on a way which aligns with their religion and values.
It mentioned it usually used the time period “Riba”, an Arabic phrase that means “extra” and generally used to explain the prohibition of curiosity below Islamic regulation.
Wahed advised the ASA that it acknowledged that currencies had been an emblem of nationwide identification however believed the burning of banknotes was not offensive and was portrayed in well-liked tradition, reminiscent of movie and TV.
The ASA mentioned the adverts would have been seen by many individuals, together with folks from the US and eurozone nations, who “would have seen their nation’s forex as being culturally important”.
“Though we acknowledged Wahed Make investments’s view that that they had circuitously criticised a selected group, and that depictions of burning banknotes had been generally encountered, we thought-about the burning of banknotes would have induced critical offence to some viewers,” the regulator mentioned.
“We subsequently concluded that the advertisements had been more likely to trigger critical offence.”
A spokesperson for Wahed Make investments mentioned: “We perceive that visuals like these included in our marketing campaign can elicit sturdy reactions.
“Whereas our intention was to spark thought and consciousness, we recognise the significance of guaranteeing that messaging resonates positively with the varied audiences that will eat them.
“We acknowledge and respect the ASA’s suggestions on using worldwide forex.”
TfL, which had paused all campaigns from Wahed Make investments pending the end result of the investigation, mentioned it might apply the regulator’s findings “when contemplating any future campaigns”.
It has no Wahed Make investments campaigns at present booked for its community.