From Abcnews: The Bombay Stock Exchange has launched a new stock index of companies that are compliant with the Islamic legal code, encouraging Muslims to invest in India’s fast-growing stock market. Islamic law imposes restrictions on investing in companies that charge interest and those that sell products such as alcohol, weapons or tobacco.

The index, called BSE TASIS Shariah 50, is composed of the 50 largest and most liquid stocks that adhere to Islamic law. The companies were chosen by the Taqwaa Advisory and Shariah Investment Solutions (TASIS), a Mumbai-based Islamic finance firm whose board members include legal experts and Islamic scholars…………………………………….Full Article: Source