Products May 8, 2002

Screening Service Checks for Shari'ah Stocks

August 17, 2001 (PLANSPONSOR.com) - Muslim retirement plan participants may be interested in subscribing to a new equity screening service, which identifies listed companies that are compliant with Shari'ah principles.
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IslamiQ, a Web site offering Muslim investors financial services in compliance with Islamic principles, has enhanced its Islamic wealth management service with the new screening service, ScreenIslamiQ.

Subscribers can access the service, which allows them to identify and monitor compliant stocks, through the group’s Web site, IslamiQStocks.com.

ScreenIslamiQ, which hopes to add to the number of exchanges that it follows, currently covers:

  • the American Stock Exchange,
  • the New York Stock Exchange,
  • Nasdaq, and
  • the London Stock Exchange

   Subscription covering either the US market or the UK market, or both, are available.

IslamiQStocks.com, launched in August last year, is the first Web site to offer a stocks screening service across several major exchanges according to Shari’ah principles. The company is guided by an international Shari’ah board, which includes three prominent Shari’ah scholars.

IslamiQStocks.com also provides IslamiQFunds, a service listing a range of Islamic investment funds.

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