Becoming Shariah Compliant
Index : 1,501 | 1Yr : -3.49% | 1Mo : -1.66%
Category : Social Beliefs & Causes
Min Investment : 16,006
The Islamic laws prohibit the involvement in certain kinds of businesses which can make it hard for muslims to participate in the Indian equity markets. Some of prohibited sectors are banking and financial services, alcohol, hotels, defence, gold and silver trading, cinema and music. The companies in this theme are compliant with Islamic Shariah law are screened from over 500 largest and most active stocks in India.
It is a diversified portfolio of quality stocks which can give a balanced exposure to multiple sectors. The theme will be rebalanced on an ongoing basis depending on the prevailing market conditions from time to time.
This theme is in line with the financial inclusion initiative for muslims who stay away from the stock markets due to religious reasons.