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Islamic finance to flourish in Saudi Kingdom

Posted on 29 March 2010

From Arabnews.com: As Islamic finance is growing very rapidly in the United States, the US-based Florentez Investment Management Inc. (ShariahShares ETF) is set to launch a family of Shariah-compliant exchange traded funds (ETFs) on the NYSE (New York Stock Exchange).

“The company has already received an exemptive relief order from the Securities and Exchange Commission (SEC), the US regulator, to launch the funds on the US exchanges,” Saeid Hamedanchi, CFA, president & CEO of Florentez (ShariahShares ETF), said in an exclusive interview with Arab News here recently……………………………….Full Article: Source

 
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