BSE Introduces Sharia Share Catalog for Muslims

India Legal News: The Bombay Stock Exchange has launched a catalog of shares for the Sharia-compliant companies. The BSE TASIS Sharia 50 comprises the most liquid Sharia-compliant shares in the BSE 500 catalog. The BSE took this step with the intent of opening stock-trading to larger population of Muslims.

All the organizations involved have been thoroughly evaluated to ensure that they conform to the Islamic law that does not permit investors to invest in firms earning from interest or engaging in the sale of alcohol, tobacco and firearms.

Madhu Kannan, Managing Director and Chief Executive of the BSE, remarked that this new catalog of shares would attract a greater number of Islamic as well as other “socially responsible” investors from India and abroad.