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| (bloomberg.com) Deutsche Bank listed three regional ETFs complying with Shariah. |
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DUBAI -- Deutsche Bank's exchange-traded fund (ETF) platform db x-trackers has listed three regional ETFs complying with the Islamic law of Shariah on the London Stock Exchange (LSE), the bank said in a statement yesterday. The first-ever Shariah-compliant listing on LSE include the db x-trackers' S&P 500 Shariah ETF, S&P Europe 350 Shariah ETF and S&P Japan 500 Shariah ETF. The statement said the ETF platform is also listing a global Shariah-compliant ETF on Dow Jones Islamic Market Titans 100 ETF to complement the three new regional Shariah ETFs. "The levels of financial sophistication among Muslim investors are growing and with them, the demand for investment products that are compliant with religious norms," said Manooj Mistry, the head of db x-trackers UK. Today, the Shariah indices of Standard & Poor's screen some Dh161.6 trillion ($44 trillion) of the world's market capitalisation.
Source: AJP
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