The term Shariah Funds in India is not a common or widely recognized term in the financial industry. It is possible that the term refers to Shariah funds, also known as Islamic fund, which adheres to the principles of Islamic finance. In India, there are many companies that provide this fund in mutual fund industry and also insurance companies.
Islamic finance follows guidelines and principles derived from Islamic law (Sharia) that prohibit certain financial activities such as interest (riba) and investments in businesses that are considered haram (forbidden), such as those related to alcohol, gambling, pork, and other activities deemed unethical from an Islamic perspective.
Islamic funds typically invest in a manner that complies with these principles, and the investments are subject to approval from Sharia scholars to ensure their compliance. There are different types of Sharia-compliant funds, including equity funds, real estate funds, and commodity funds, among others.
If you are looking for specific details about a particular Shariya Fund or any other financial instrument, it is essential to check with a reputable financial institution or fund manager that specializes in Islamic finance. Keep in mind that financial products and fund names can change over time, so it’s crucial to refer to the most up-to-date and accurate sources.
which are the mutual fund companies that have Shariyah funds in India?
Several mutual fund companies in India offered Shariah-compliant funds to cater to investors who seek investments aligned with Islamic principles. Some of these mutual fund companies include:
Tata Mutual Fund
UTI Mutual Fund
IDBI Mutual Fund
Reliance Mutual Fund
Franklin Templeton Mutual Fund
L&T Mutual Fund
SBI Mutual Fund
DSP Mutual Fund
These fund companies may have specific funds or schemes that are designated as Shariah-compliant, and they often have an internal Shariah advisory board or committee to ensure compliance with Islamic principles.
Please note that the availability of Shariah funds and their names may change over time, so it is always a good idea to verify with the respective mutual fund companies for the most current and up-to-date information on their product offerings. Additionally, new fund companies might have introduced Shariah-compliant funds since my last update.
