Skip to comments.New Mutual Funds Observe Islamic Law
Posted on 12/14/2006 10:29:00 AM PST by Choose Ye This Day
New Mutual Funds Observe Islamic Law
Deutsche Bank introduces Shari`a-compliant funds
Deutsche Bank has launched five mutual funds that comply with traditional Islamic law, or Sharia, in response to what it said was a growing demand for Islamic investment products. Marketed as DWS Noor Islamic Funds, Deutsche Bank says they are the first to be Shari`a compliant and excludes investments in alcohol, gambling, or companies with large amounts of debt. "With DWS Noor Islamic Funds, our Islamic clients can rely on a strictly Shari`a-compliant framework while benefiting from attractive international investment opportunities usually only available as conventional mutual fund products," Scott Jaffray, DWSs chief investment officer for the Middle East and North Africa, said in a statement.
Additionally, the funds are specialized due to the use of Dar Al Istithmar, a Shari`a advisory service created through a joint venture between Deutsche Bank, the Oxford Centre for Islamic Studies, and investment advisor Russell Wood, and whose Shari`a Board consists of five of the world's leading Shari`a scholars. The DWS Noor Islamic Funds will be offered now to investors in the United Arab Emirates and Bahrain, with plans to make them available in other countries in the region, Asia, and Europe next year.
"You're in Good (Bloody) Hands With Sharia"
Something along those lines.
Over my dead portfolio!
Excludes investments in alcohol, gambling, or companies with large amounts of debt, but investments in genocide, slavery, racism, mass murder, genital mutilation are just peachy.
There is a big American mutual fund thats been doing this for years. I think it's Humana. No alcohol companies, etc.
There is but one God, and Deutsche Bank is his profit.
Also a slogan like this : "Sharia Life, the company you keep(for fighting infidels)
or... Infidelity Investments : Working toward an explosive market
So Islamic Mutual Funds rely on inside information by Terrorist within their cult to tell them what would be hit and when to make a profit?
Europe further sinking into dhimmitude.
I thought making money off of interest is forbidden in the Koran. How does this work?
I'm sure these funds will perform as well as the eco- or social-conscience funds etc. In other words, they'll tank.
It is illegal under Islamic law to lend money, unless the money is borrowed at ZERO percent interest.
What is rate of return on these investments? Negative? Might do better with "pump and dump" schemes.
There are several funds like this for other groups. Other than that, the clients have specific guidelines on record with their investment advisor.
I've always wanted to invest in a "Socially Irresponsibility" fund. One that would invest only in defesne cotractors, alcohol, tabacco, etc.
Nah, you just charge rent instead of interest.
Same thing, different name, different title holder.
Islam is nothing if not legalistic.
You can. It's called the Vice Fund (VICEX)
Thanks. I'll look into it.
NOW WE'RE TALKING !!!
Defense contractors, oil companies (U.S. and friendly gov't only), alcohol, tobacco, GAMBLING, and "adult films". Missing any categories?
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