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» World'vest Base announces the release of WVB Sharia Scoring
The Sharia Scoring is based on a similar profile to a credit scoring and enables Islamic Investors to clearly see how compliant a company is with different interpretations of Sharia and Islamic jurisprudence.
Most importantly it clearly indicates which companies it is forbidden to invest in due to the business activities of the company.
With scorings for over 45,000 publicly listed companies, for the first time fund managers have an easy to use tool to enable them to accurately assess the compliance of the underlying investments in the fund.
The CEO of World'vest Base commented, "The objective of this product is to offer investment opportunities on Islamic principles on a worldwide basis."
He continued "Fund managers now have a means to screen around the world on different levels of adherence to Sharia. On the one hand this is a simple tool, but on the other the potential implications are enormous as it is at last possible to enable people to invest according to their beliefs, confident that they are not doing the wrong thing by accident".
The WVB Sharia Scoring applies six key tests of compliance to Sharia commencing with two that determine whether a company and its subsidiaries are involved in forbidden business activities. The next four determine the degree of compliance. The scoring itself caters for differing views on what is compliant and also a secondary scoring that differentiates companies further.
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