S&P launches Shariah indices

Standard & Poor's (S&P) on Tuesday announced the launch of three indices designed to meet demand from Islamic investors for investable access to some of the world's most popular investment strategies.

S&P Global Infrastructure Shariah, S&P Global Healthcare Shariah and S&P/IFCI Large-MidCap Shariah are the three indices that were launched.

S&P/IFCI Large-MidCap Shariah, which is S&P's emerging market Shariah index, currently includes stocks from the emerging market countries including India.

The other countries in the list include Argentina, Brazil, Chile, China, the Czech Republic, Egypt, Hungary, Indonesia, Israel, Malaysia, Mexico, Morocco, Peru, the Philippines and Poland.