Comment by throwaway2037

10 hours ago

That is wild. Saudi Arabia which is governed by sharia law spends about 7% of its GDP per year on its military. I had no idea that ownership of defense contractors is considered haraam.

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throwaway2037

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DaedalusII  9 hours ago

opinions vary, but this was the opinion adopted when formulating this index

it probably makes it easier to ship in europe where some private banks and pensions (eg denmark gov) ban defence investment

  • throwaway2037  2 hours ago 

        > the opinion adopted when formulating this index

    You raise an excellent point. I did a little bit of Googling and discovered:

        > S&P Shariah indices ... are overseen by an independent Shariah Supervisory Board consisting of a panel of internationally renowned Islamic scholars. This board is facilitated by Ratings Intelligence Partners, a London and Kuwait-based Islamic finance advisory firm.

    Ref: https://www.ratingsintelligence.com/