27.08.2009 - Islamic funds turn focus on India
From Business-standard.com: India is fast emerging as the preferred destination for Islamic funds. In the last six months, the country has seen major Islamic finance players in the Gulf announcing investments of over $10 billion, said Shariq Nisar, chief executive officer of Bangalore-based Bearys Amanah Investment. According to him, India is a more strategic option over countries like Malaysia and Pakistan because of the thriving stock markets . "It is estimated that Islamic finance business is worth $1 trillion and India can attract a sizable portion of it,'' said Nisar, who screened and launched the first list of Shariah-compliant stocks in India...............Full Article: Source