S&P's BRIC Shariah Index

In an incentive to Islamic investors around the world, Standard & Poor's, world's leading index provider, has extended its services to BRIC (Brazil, Russia, India, China) countries by launching the S&P BRIC Shariah Index.

The Shariah Index will trade in only those stocks in BRIC nations which satisfy the eligibility norms of Shariah law. The index will capture only those stocks which already trade on developed market exchanges- specifically those on Hong Kong Stock Exchange, London stock exchange, NASDAQ and NYSE.