A UK advertising watchdog has banned ads by Islamic investment company Wahed, for featuring images of euros and US dollars going up in flames, claiming it was highly offensive.
Wahed Invest Ltd featured the campaign on Transport for London services, including the London Underground and buses. Some of their campaigns include the popular Zimbabwean Muslim preacher Ismail ibn Musa Menk, or Mufti Menk as he is more commonly known.
The adverts showcased the currency going up in flames along with the words "Join the Money Revolution".
However, the Advertising Standards Authority (ASA) alleged they received 75 complaints from people who deemed it offensive, adding it would have been seen by tourists coming from the US and Europe.
According to ASA rules, advertising practices state adverts should not contain anything that would cause widespread offence.
The advert was intended to highlight the excessive use of interest and the impacts of this.
Wahed, which is targeted towards Muslims, allows its users to invest ethically according to Islamic values and does not charge consumers interest on loans.
A press release from the company on 8 January states they accept and acknowledge the ASA ruling, and that their "imagery sought to visually, and metaphorically, highlight the impact inflation has on savings, particularly within communities adhering to faith-based principles which do not have access to widely used hedges against inflation like interest-based savings accounts".
They also reiterated that they complied with “all appropriate media partners for approval processes of this campaign, including Global, the selected outdoor media agency and are pleased to have reached a resolution on these issues".
The ban on the adverts has however raised controversy, particularly as adverts from other companies have showed US dollars being burned, in campaigns targeting the US market without any action being taken by the Federal Trade Commission.
The New Arab reached out to ASA for comment on why other adverts, such as one by supermarket Aldi, was not banned despite featuring similar themes, but did not receive comment by the time of publication.
There are also tens of thousands of results for "burning money" on stock media companies such as Shutterstock, often used for advertising.
Videos on YouTube and online courses covering interest, inflation and teaching financial interest also regularly use imagery of burning currency as a visual representation.
The symbolism has long been used in finance and is also common in day-to-day vernacular, such as phrases including "burn rate" to describe how quickly a company spends money or the colloquial use of "burning a hole in my pocket".
This is not the first time Wahed’s adverts have caused ire, particularly in right-wing British press.
Earlier this year, right-wing news channel GB News reported that Reform UK's former London mayoral candidate Howard Cox criticised the advert featuring Mufti Menk, arguing "it does not align with British cultural values".
Cox added that had he been elected mayor, he would not have allowed it.
However, a Transport for London spokesman told the outlet that "this advert was reviewed and found to comply with our advertising policy".
A spokesperson for the London mayor also said: "The Mayor is clear that there is no place for hate in London and he strongly condemns any language which divides London's amazing diverse communities."
"The Mayor has no involvement in approving or deciding which ads run on the TfL network, and TfL's policy reflects legal requirements."