After two years of investing his retirement money in one of Australia’s major superannuation funds, Mohamed Mahmoud decided to make a switch.
The 35-year-old computer science engineer, who immigrated to Australia from Egypt four years ago, said his decision was driven by a desire to invest in a fund that was more aligned with his cultural values and principles.
“I was looking for an Islamic [super fund] because I know that most of the super funds here in Australia maybe invest in gambling, banks or arms manufacturers, which I believe is unethical.”
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