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German Bank offers ‘Islam-compliant’ investment

Posted on 08 February 2012

Last month, German bank WestLB rolled out a new “Islam-compliant” investment product named the Islamic Strategy Index Certificate. The value of the certificate is based on the value of the WestLB Islamic Deutschland Index, consisting of shares of ten German firms “whose business activities are consistent with the ethical rules of Islam.”
The WestLB product prospectus explains that the Islamic Strategy Index Certificates “are certified by the Central Council of Muslims in Germany as Islam-compliant [Islam konformes] investment.” The Central Council of Muslims in Germany is an umbrella group of twenty-two Muslim organizations………………………………………..Full Article: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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