Search results
Results from the WOW.Com Content Network
The Public Investment Fund (PIF) is the sovereign wealth fund of Saudi Arabia, created in 1971 and controlled by Crown Prince Mohammed bin Salman. It has total assets of US$ 925 billion and invests in various sectors, both domestically and internationally, with a focus on diversifying the economy.
Learn about the financial products and services that conform with Sharia law, such as Mudharabah, Wadiah, Musharakah, Murabahah, Ijar, Hawala, Takaful and Sukuk. Find out the principles, benefits, criticisms and examples of Islamic finance.
Learn about the history, principles, and practices of Islamic banking and finance, which comply with Sharia law and avoid interest and other prohibited activities. Explore the growth, challenges, and controversies of this global industry that serves Muslims and non-Muslims.
The Islamic Development Bank (IsDB) is a multilateral development finance institution that focuses on Islamic finance for infrastructure development. It has 57 member countries, mainly from the Organisation of Islamic Cooperation, and is based in Saudi Arabia.
The DJIM is a stock market index for investors seeking Sharia-compliant investments. It was launched in 1999 and screens companies based on Islamic finance criteria and financial ratios.
Mawarid Finance is a private joint stock company in Dubai that provides Islamic financial products and services to individuals and SMEs. It was founded in 2006 and has subsidiaries in exchange, securities, technology, consultancy, medical and insurance sectors.
Sukuk are financial instruments that comply with Sharia law by paying profit, not interest, and involving ownership of real assets. They are issued by various entities, such as governments, corporations, and banks, and have different structures based on Islamic contracts.
Shariah Compliance - The fund adheres to the criteria developed by the Shariah Supervisory Board composed of internationally renowned scholars. Based on these criteria, the following businesses are generally excluded: alcohol, tobacco, pork products, conventional financial services (banking, insurance, etc.), weapons, defense, and entertainment.