Shariah-based investment products set to flood markets
Shariah-compliant personal investment products are slated to flood the market as exchanges and mutual funds seek to tap Muslim investors who refrain from trading in stocks and commodities. While the MCX-owned National Spot Exchange Limited (NSEL) plans to market shariah-compliant investment products in a fortnight, SBI Mutual Fund and UTI Asset Management are looking at ways to launch such products in the next few months.
Tata Mutual, Benchmark Asset Management , Taurus Mutual and Sundaram Mutual Fund have ethics-based investment products already.
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