Mutual funds designed to meet the criteria of a faith are not limited just to Muslim investors and some funds are moving beyond the Islamic funds in incorporating more proactive actions that do more than just using exclusionary screening. These including becoming activist shareholders and including 'positive' screens that support companies with the highest ethical conduct. I think it is the next step for Islamic mutual funds to become focused on more than just prohibition-based screens.
The path of Tokyo-Mitsubishi UFJ Bank from initially considering becoming active in Islamic finance becoming active in Malaysia with expansion plans elsewhere are described in a short article.
As usual, the sukuk al-salam issued by the Central Bank of Bahrain was oversubscribed, highlighting a continued need for short term investments for investors including Islamic banks.
A Shari'ah-compliant health insurance plan was introduced in Dubai.
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