Wahed Invest ads showing burning US dollar and euro banknotes banned after complaints
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Six ads for the Islamic investment platform Wahed Invest have been banned by regulators, who deemed them likely to cause serious offence. The posters for Wahed Invest, seen in September and October on Transport for London (TfL) services including tubes and buses, featured images of Muslim preacher Ismail ibn Musa Menk and Russian former professional mixed martial artist Khabib Abdulmanapovich surrounded by the flaming banknotes.
Each ad showed the figures gesturing skywards, juxtaposed with bold "Join the Money Revolution" slogans above the Wahed logo. A trio of these posters depicted Mr. Menk with an open case of ablaze currency, uttering phrases such as "Withdraw from Exploitation" and "Withdraw from Riba".
One poster said: "Charging people to borrow money was once called exploitation. Sadly, that perception has changed and now interest has caused a massive wealth gap, enriching the few while the majority get poorer. Join the growing community moving their money to a fairer system, one that serves you! Download Wahed now. Join the Money Revolution.".
The Advertising Standards Authority has fielded 75 complaints saying the ads were offensive. Wahed, which styles itself as an investment platform tailored for consumers predominantly from the Muslim community to invest in line with their faith, often uses "Riba" - an Arabic term signifying "excess", commonly associated with the prohibition of interest in Islamic law. Wahed noted to the ASA that they realize currency symbolizes national identity but didn't find the imagery of burning banknotes offensive, pointing to its depiction in popular culture such as film and TV.
