Profiting According to the Words of the Prophet
Islamic funds set sights on U.S. market.
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American Muslims have long faced a dilemma when trying to invest. Islam not only has some of the most severe restrictions of any major religion on what its adherents can do with their money, but the United States also offers a dearth of investment options that comply with those strictures.
This could start to change as at least two investment boutiques plan to offer funds that conform to Islamic tenets this year. Both funds will be pinned to the U.S. portion of Islamic Indexes that Dow Jones (DJ) created last year.
Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.