A BUSINESSMAN who started Britain's first financial advice service for the Muslim community has been named the North-west's Young Entrepreneur of the Year.

Sufyan Ismail, managing director of 1st Ethical, based in Lower Bridgeman Street, Bolton, won the regional final of the Shell LiveWIRE business competition for young entrepreneurs at Manchester's Salford Quays.

Mr Ismail and his business partner, Bashir Timol, a director in the business, won £1,000 and will now go forward to the national final in June competing for a top prize of £10,000.

1st Ethical is the UK's first firm of independent financial advisers to cater exclusively for the Muslim community. There are about 2.5 million Muslims in Britain who are heavily restricted over where they can invest their savings.

The Islamic faith prohibits investments that involve alcohol, gambling, tobacco and pornography. 1st Ethical have invented the concept of Islamic Tax Solutions, which works in harmony with the Muslim faith. The company has a number of corporate clients and professional clients, including doctors and dentists.

Mr Ismail, who lives in Bolton, started the firm in November 2001. He is a Corporate Finance and Economics graduate from Manchester University.

Mr Timol, an economics graduate from the University of Central Lancashire, has a background in senior accounts management and was headhunted by Mr Ismail from a top UK company.