Sri Lanka’s Innovest Investments has launched an “Islamic Shari’ah Compliant Investment Plan” which comprises of only Shari’ah compliant stocks traded on the Colombo Stock Exchange.
The company says, with this scheme in operation, investors who prefer to avoid interest or Riba can now limit their investments to shares from a basket of Shari’ah compliant companies.
“The basic precept in this investment plan is that one can buy and sell shares subject to the condition that the company is undertaking a Halal business” added the firm in a media release issued annoucing its latest investment plan.
Innovest, is a firm engaged in providing advice to both institutional and individual clients looking to invest in the stock market as well as fixed income securities.
Former Chairman of the Colombo Stock Exchange (CSE) and Finance Commission Ajit de S. Jayaratne and top corporate executive Dian Gomes are the key figures behind the company.
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