Six global exchange-traded funds track Islamic indexes,
according to Chicago-based data researcher Failaka.
Nasdaq OMX Indexes is about to break into the already
crowded field of index providers targeting Islamic investors.
Versions of the flagship Nasdaq 100 Index and Nasdaq
Biotechnology Index are to be launched in the first quarter 2009.
Dow Jones, MSCI, FTSE Group and financial services firms
including HSBC and Citigroup have long lists of stock indexes, and to a more
limited extent bond indexes, refashioned for the Islamic world.
Currently, there are six exchange-traded funds globally
tracking Islamic indexes, according to Chicago-based data researcher Failaka.
Three are from Barclays Global Investors' European iShares
ETF family based in London. The iShares track the MSCI Emerging Market Islamic,
USA Islamic, and World Islamic equity indexes. BNP Paribas has an ETF based on
the Dow
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