Nifty Shariah Index(S&P CNX Nifty Shariah)

First Shariah compliant Exchange Traded Fund opens Feb 4 The Benchmark Asset Management is all set to launch the first-ever Shariah Benchmark Exchange Traded Fund in India. Rajah Mehta, Executive Director of Benchmark Asset Management talked to about the new offering. Exchange Traded Funds are like mutual funds but the stocks can be freely traded. The fund makes money by trading in different company stocks.

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In this case all companies that the fund can invest in have to follow business and accounting practices that follow the Islamic laws. Continue reading