Nasdaq has created two sharia-compliant indexes, based on the Nasdaq 100 Index and the OMX Stockholm Benchmark Index.

The indexes are weighted by market capitalisation and track the securities in the underlying benchmark indexes, and meet sharia requirements as specified by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI).

Shariah Finance Watch readers may recall that AAOIFI’s Shariah Advisory Board is headed by Mufti Taqi Usmani, a militant Jihadist from Pakistan who has called for violent Jihad against the West and has written anti-Christian hate literature…

http://www.shariahfinancewatch.org/2009/02/27/hsbcs-shariah-man/

http://www.risk.net/structured-products/news/1687146/nasdaq-launches-sharia-indexes

 

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