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The investment products, which are offered be Sharia-compliant investment companies, should meet special requirements. “According to Islam, stock market traders should not use credit funds to assess securities and bonds; they should not conduct call transactions and conclude forward or futures contracts. Share transactions with companies, which involve manufacturing, using or selling of food additives, alcohol, pork, prohibited by Islam, are also impossible”, Yuri Mintzev, CEO of the Investment company “Brokerkreditservice”, explained.

The investment products, which are offered be Sharia-compliant investment companies, should meet special requirements. “According to Islam, stock market traders should not use credit funds to assess securities and bonds; they should not conduct call transactions and conclude forward or futures contracts. Share transactions with companies, which involve manufacturing, using or selling of food additives, alcohol, pork, prohibited by Islam, are also impossible”, Yuri Mintzev, CEO of the Investment company “Brokerkreditservice”, explained.

This is the reason why Muslim investors are invited to take part in equity participation. «When an investor gets a share in business and profit as an indemnity of his money usages”, quotes “Gazeta.ru”.

Experts claim, that such investment companies operate in the Middle East, in Europe (where they appeared ten or 15 years ago), but there had been no such companies in Russia before. «In our multiconfessional country, such services will be very popular. Niche products will be in huge demand, as they are alternative financial instruments”, claim the representatives of the Safinat Group. According to Andrei Sapunov, the senior investment adviser of the “Finam” investment company, the TIIC may be interesting for more than 20,000,000 of Russian Muslims, and for the Islamic world.

Islamic-Finance.ru based on materials of IslamNews.ru