London Stock Exchange lists sharia funds

10 December 2007
The London Stock Exchange will list its first sharia-compliant exchange traded funds (ETFs) on its main market on 10 December.

The three funds launched by iShares track indices that exclude companies engaged in activities prohibited under Islamic law.

The indices are iShares MSCI World Islamic, iShares MSCI USA Islamic and iShares MSCI Emerging Markets Islamic.

ETFs track an index, commodity or basket of assets but trade like a stock.

iShares is a subsidiary of Barclays Global Investors.

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