Bradford's Muslim entrepreneurs are the first in the country to be targeted for a ground-breaking investment scheme.

Business leaders met for a seminar on the newly-launched package which allows Muslims to invest money in accordance with the rules of the Quran.

Under the Sharia - the laws set out within the Islamic faith - Muslims cannot earn money from interest payments or from investing in ventures which conflict with their strict religious sentiments such as alcohol, tobacco, arms and pork.

Worldwide financial leader HSBC recently consulted with religious and ethical advisers to devise a specialist Islamic-friendly investment scheme. And in the first promotion event since its launch, the package - the HSBC Amanah Global Equity Fund - was presented to Muslims in the city.

Keith Madeley, chairman of Bradford-based Manor Financial Management Ltd, said: "Knowing our track record over 25 years, HSBC contacted us to promote the scheme in Bradford.

"Although it was actually launched in April, it is the first time it has been publicised like this anywhere in the country."

Manor organised a pilot presentation to 15 Muslim business people last week.

"There was a great deal of interest in the fund and we will be organising a larger- scale event for around 50 people shortly."

A top-level team of Islamic financial and ethical advisers, including a judge from the Supreme Court of Pakistan, ensure that all investments are consistent with the laws of the Shariah. These will be on hand to speak at the coming conference.

"It is great that Bradford has been chosen as venue for this promotion," said Mr Madeley.

"I think it is going to have a big impact. We all realise that Asian businesses are playing a very important part in the Bradford economy and so this is great news for the city as a whole."

The fund avoids investing in interest-based schemes as well as companies dealing in products such as tobacco, arms, alcohol or pork. It pays two per cent per annum over the MSCI world index.

David Scougill, deputy chairman of the Bradford Asian Business Association, said: "I was pleased that Manor Financial have been chosen by HSBC to launch this innovative new scheme in Bradford. It confirms that Bradford is becoming an important financial centre within the region."

For more information contact Manor Financial Management on (01274) 514000.