Shariah Capital to launch Islamic ETF

Shariah Capital plans to launch a Shariah-compliant exchange traded fund (ETF) soon, CEO Eric Meyer told Emirates Business. The ETF will be simultaneously launched in London and New York, he added.

"Based on the success of our DSAM Funds Shariah Capital has now made the strategic decision to expand into ETFs," Meyer said.

"With 1.5 billion Muslims and estimates of $2.7 trillion (Dh9.91trn) invested into Shariah-compliant investments globally, the need for Islamic ETFs is evident.