HSBC Islamic Global Equity Index Fund
Aims to create long term appreciation of capital through investment in a diversified portfolio of securities as defined by a relevant world index, which meets Islamic investment principles as interpreted and laid down by the Shariah Supervisory Committee and provided to the Board of Directors. Islamic Finance differs from conventional finance in the following ways:
Ban on interest (Riba)
Ban on uncertainty (Gharar)
Ban on speculation and gambling (Maisir)
Risks and profits are shared among all parties
Ethical investments that enhance society
Underlying assets must be tangible and identifiable