That is wild. Saudi Arabia which is governed by sharia law spends about 7% of its GDP per year on its military. I had no idea that ownership of defense contractors is considered haraam.
replyopinions vary, but this was the opinion adopted when formulating this index
replyit probably makes it easier to ship in europe where some private banks and pensions (eg denmark gov) ban defence investment
> the opinion adopted when formulating this index
> S&P Shariah indices ... are overseen by an independent Shariah Supervisory Board consisting of a panel of internationally renowned Islamic scholars. This board is facilitated by Ratings Intelligence Partners, a London and Kuwait-based Islamic finance advisory firm.
thanks for the explanation and digging up the exclusion criteria.
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