Barclays launched three new exchange traded funds (ETFs) this week that allow Muslim investors to track markets without contradicting Muslim law. John Kenchington for InvestmentWeek reports that in addition to the MSCI-screened benchmarks, the Shariah Panel will determine if the ETFs track in accordance with their beliefs. The new ETFs are:
- iShares MSCI World Islamic
- iShares MSCI Emerging Markets Islamic
- iShares MSCI USA Islamic
The group is seeking to launch more Islamic ETFs on the London exchange over the next year, and the Shariah panel shall oversee the workings. If they take off, could we see them show up in the U.S.?
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