The new Islamic hedge funds

// added October 22, 2007 // 2 comments //
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sloan

more from Money:

http://dealbook.blogs.nytimes.com/2007/10/22/kuwaiti-firm-to-launch-i...

Oh man, this is SO 21st century: a new Kuwaiti hedge fund aims to take some of those Persian Gulf millions and invest them in a way that complies with Sharia -- Islamic law. Barclays is starting one soon, too.

So what makes a hedge fund Sharia-compliant? Well, for starters, Islam forbids gambling, and some kinds of short-selling -- that is, selling an asset because you think its price will fall -- come pretty close.

I don't know about all this. I invest a bit in one of those socially-responsible mutual funds and, you know what? It doesn't make me feel any better about anything.
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    Money,  Finance,  Economics,  Islam,  3 more

2 comments // The new Islamic hedge funds

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