The Bombay Stock Exchange has launched a Sharia Index of 50 companies who meet the Islamic legal code criteria established by India's Sharia advisory board.
LM welcomes this move by India who appear to acknowledge that currently the 15% of its population who are Muslim have not been traditionally well served by its financial sector.
What's also interesting about this move is how India understandably with approaching 200 Muslims seem to be positioning themselves as a leader in Islamic Finance to counter the Middle East and Malaysia.
MONOTONE CRUSH
1 day ago
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