Ads Featuring Burning Dollar Bills? UK Watchdog Says Nope
The UK Advertising Standards Authority said Wahed Invest can no longer run posters with flaming US and EU bills.

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Well, that campaign really went up in flames.
Financial regulations surrounding advertisements are becoming hot topics both here and abroad, after a UK watchdog banned posters from a Sharia-compliant robo-advisor that featured burning US and European Union banknotes. The ads created by New York City-based Wahed Invest appeared in London tube stations, and led to 75 public complaints, according to the Advertising Standards Authority. The agency argued that currency can be considered culturally significant and a symbol of national identity.
It’s the latest sign that regulators around the globe are stepping up enforcement of advertisements and cracking down on non-compliant marketing in the financial sector.
We Didn’t Start the Fire
While it irked regulators, Wahed said the advertising campaign was meant to be thought-provoking — not offensive. Between September and October, Wahed displayed six posters in underground terminals:
- One featured former UFC Lightweight champion Khabib Nurmagomedov and religious leader Grand Mufti Ismail ibn Musa Menk flanked by flaming $100 bills.
- Another had Menk holding an open briefcase with blazing currency with captions that read: “Join the money revolution” and “Capital at risk.”
Wahed said the ads were designed to illustrate Sharia law’s prohibition of earning interest. For Muslims with standard savings accounts, the interest they don’t accept is symbolically “going up in flames.” The company promotes its services as a way for Muslims to manage finances while adhering to their faith.
The posters were reviewed by both Transport for London’s advertising partner and the ASA’s sister organization, the Committee of Advertising Practice, with no objections raised before they went up.
To Tell the Truth. Less concerned with potentially offensive imagery, US regulators have focused more on ensuring ads are truthful and transparent, as seen in the 2020 update to the Securities and Exchange Commission’s marketing rules.
Ironically, Wahed has been at the center of those disputes, too. In November, it agreed to pay a $250,000 fine for running ads with athletes and failing to disclose they were paid endorsers, not actual customers. In 2022, Wahed paid $300,000 to settle claims it falsely advertised proprietary funds that didn’t exist. Whoops.