Shariah vs conventional: Which funds are better?
Jo-Ey Chee | 02 Aug 2019 00:30
There has been growing interest globally for Shariah-compliant funds in recent years. The Malaysia Islamic International Financial Centre reports that by the end of the first quarter of 2017, total global Islamic assets under management were US$70.8 bil (RM292.3 bil compared to US$47 bil in 2008.
First, some background information on Shariah-compliant fund. It is a type of investment fund that abides by Shariah law and Islamic principles.
Take note that in the realm of Islamic finance, banks are not allowed to charge interest and do not fund companies or projects that are associated with alcohol, tobacco or gambling.
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