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New Mutual Funds Observe Islamic Law
Investment Adviser ^
| December 7, 2006
| Kara Stapleton
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 Shari’a, 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, DWS’s 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.
TOPICS: Business/Economy
KEYWORDS: eurabia; investments; mutualfunds; sharia
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We need to help Deutsche Bank (Dhimmi Bank?) come up with some good advertising and marketing slogans for their new funds.
"You're in Good (Bloody) Hands With Sharia"
Something along those lines.
To: Choose Ye This Day
2
posted on
12/14/2006 10:32:14 AM PST
by
Niteranger68
(Life's greatest obstacle is in the mirror.)
To: Choose Ye This Day
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.
3
posted on
12/14/2006 10:34:48 AM PST
by
tkathy
(Sectarian violence? Or genocidal racists? Which is a better description of islamists?)
To: Choose Ye This Day
There is a big American mutual fund thats been doing this for years. I think it's Humana. No alcohol companies, etc.
4
posted on
12/14/2006 10:34:58 AM PST
by
NeoCaveman
(Where is my Reagan, Don't say it's John McCain. Where have all the conservatives gone? - P.Shanklin)
To: Choose Ye This Day
There is but one God, and Deutsche Bank is his profit.
5
posted on
12/14/2006 10:35:11 AM PST
by
eastsider
To: Choose Ye This Day
Deutsche Bank: Our accounting gimmicks are tricky enough to fool even Allah.
6
posted on
12/14/2006 10:36:34 AM PST
by
KarlInOhio
(Baker's Iraq Surrender Group - warming up the last helicopter out of Baghdad.)
To: KarlInOhio
Yep. The pen is mightier than the sword.
7
posted on
12/14/2006 10:39:20 AM PST
by
b4its2late
(Liberalism is a hollow log and a mental disorder.)
To: Choose Ye This Day
"You're in Good (Bloody) Hands With Sharia" LOL!!!
Also a slogan like this : "Sharia Life, the company you keep(for fighting infidels)
or... Infidelity Investments : Working toward an explosive market
To: Choose Ye This Day
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?
9
posted on
12/14/2006 10:43:04 AM PST
by
A CA Guy
(God Bless America, God bless and keep safe our fighting men and women.)
To: Choose Ye This Day
Europe further sinking into dhimmitude.
10
posted on
12/14/2006 10:52:46 AM PST
by
beethovenfan
(If Islam is the solution, the "problem" must be freedom.)
To: Choose Ye This Day
I thought making money off of interest is forbidden in the Koran. How does this work?
11
posted on
12/14/2006 10:53:22 AM PST
by
Lorianne
To: Choose Ye This Day
I'm sure these funds will perform as well as the eco- or social-conscience funds etc. In other words, they'll tank.
12
posted on
12/14/2006 10:53:29 AM PST
by
Asclepius
(protectionists would outsource our dignity and prosperity in return for illusory job security)
To: Choose Ye This Day
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.
13
posted on
12/14/2006 10:54:13 AM PST
by
PetroniDE
(We Don't Live in Texas Anymore --- State Name is Now TAXES !!)
To: NeoCaveman
There are several funds like this for other groups. Other than that, the clients have specific guidelines on record with their investment advisor.
14
posted on
12/14/2006 11:03:14 AM PST
by
Jaded
("I have a mustard- seed; and I am not afraid to use it."- Joseph Ratzinger)
To: Jaded
I've always wanted to invest in a "Socially Irresponsibility" fund. One that would invest only in defesne cotractors, alcohol, tabacco, etc.
15
posted on
12/14/2006 11:09:48 AM PST
by
NeoCaveman
(Where is my Reagan, Don't say it's John McCain. Where have all the conservatives gone? - P.Shanklin)
To: PetroniDE
Nah, you just charge rent instead of interest.
Same thing, different name, different title holder.
Islam is nothing if not legalistic.
16
posted on
12/14/2006 11:10:40 AM PST
by
NeoCaveman
(Where is my Reagan, Don't say it's John McCain. Where have all the conservatives gone? - P.Shanklin)
To: NeoCaveman
I've always wanted to invest in a "Socially Irresponsibility" fund. One that would invest only in defesne cotractors, alcohol, tabacco, etc. You can. It's called the Vice Fund (VICEX)
To: San Franistan
Sweet!
Thanks. I'll look into it.
18
posted on
12/14/2006 11:23:21 AM PST
by
NeoCaveman
(Where is my Reagan, Don't say it's John McCain. Where have all the conservatives gone? - P.Shanklin)
To: NeoCaveman
There is a big American mutual fund thats been doing this for years. I think it's Humana. No alcohol companies, etc.
''''''''''''''''''''''''''''''''''''''''''''''''''''
Many mutual fund companies have socially conscious funds. They usually do poorly. Not sufficiently capitalistic (smile)
To: NeoCaveman
I've always wanted to invest in a "Socially Irresponsibility" fund. One that would invest only in defesne cotractors, alcohol, tabacco, etc. NOW WE'RE TALKING !!!
Defense contractors, oil companies (U.S. and friendly gov't only), alcohol, tobacco, GAMBLING, and "adult films". Missing any categories?
20
posted on
12/14/2006 11:40:36 AM PST
by
PetroniDE
(We Don't Live in Texas Anymore --- State Name is Now TAXES !!)
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