Words of Wisdom - the Editor

Peace.
Got busy with a new project. So couldn’t add more news. Although I came across a fine article by a brother on the history and future of Islamic Banking. I was surprised to know that Islamic banking had beginnings in 1975. Wow. That’s almost as early as my birth. And I guess if there are enough like minded people any idea is bound to grow. I too used to wonder if I can invest without plunging into interest based transactions.

UK I noticed is taking some fine initiatives to promote Shariah Finance. Also came across a western brother or atleast who calls Muslims his brothers and sisters but laughs cynically at the DOW Islamic index as 'bending backwards' to accommodate those guys who have four wives and cut of peoples hands. O well some people just don't get it, do they?

Tuesday, May 27, 2008

TAIEX eyes launch of Shariah fund in H2 Reuters

Taiwan's stock exchange (TAIEX) will launch an Islamic exchange traded fund in the second half of this year to tap growing demand for Shariah-compliant investments, its chairman said yesterday. "The compilation of stocks for Taiwan's first Shariah exchange traded fund is expected to be completed in the next two to three months," Wu Rong-i told reporters on a visit to the Malaysian capital to woo investment.
"Since Malaysia is a Muslim country, we think a Shariah-compliant exchange traded fund may be marketable here."
The Taiwanese exchange has been stepping up efforts to attract oil money from the Middle East. In December, it entered into a preliminary deal to list its planned Shariah exchange traded fund in Taiwan and Abu Dhabi.
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