New Delhi, December 28 The Bombay Stock Exchange along with Taqwaa Advisory and Shariah Investment Solutions (P) Ltd. (TASIS) launched on December 27, 2010 at Mumbai a Sharia Index with 50 Sharia compliant companies within the BSE 500. I would be known as BSE TASIS Sharia 50.
These 50 companies are the most liquid ones and are strictly adhering to Islamic Shariah norms and that is to stay away from interest or the sale of alcohol, tobacco and other prohibited goods.
According to its website, TASIS was “founded by a group of finance and investment professionals for providing guidance and support to individuals and corporates having an interest in the nascent but highly potential Islamic finance industry in India. As the name suggests, it is an organization providing Shariah advisory and investment solutions in India, while operating within the Indian legal framework.”
It is to point out that TASIS is organizing a programme in BSE on January 6, 2011.
BSE TASIS SHARIAH 50 Index
Details about the Shariah Index