Followers of Islam, the second largest faith in the world with an estimated 1.7 billion believers, can now be surer when an Indian firm stands the pre-requisites for observant Muslims. The Shariah index launched by the Bombay Stock Exchange (BSE) is a new measure in town, assuring compliance with the Islamic canonical law.
Besides giving Islamic mega funds a surer handle on Indian markets, the aim of the S&P BSE 500 Shariah Index is financial inclusion of Indian Muslims - around 177 million in number and hitherto wary of stock markets - and attract them to "correct" equities...........................................Full Article: Source
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