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Islamic Finance Briefing - Categorized | Finance, Investment more

Investing with Allah’s approval: German bank eyes Muslim customers

Posted on 02 February 2012

Islamic investors must obey the Koran’s prohibitions on dealing in a variety of activities. That can include everything from trading in derivatives to hocking pork products. Düsseldorf-based commercial bank WestLB has just launched an investment product in line with Sharia law.
To protect investors from serious loss, WestLB has built an airbag into the certificate. If a closing rate on the Islam Index is at least 8% lower than opening price or closing rate of the last adjustment, then on the following business day all capital is moved to a no-interest money account………………………………………..Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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