Keeping the faith: Shariah-compliant services in India

Express Money: Keeping the faith: Shariah-compliant services in India

Shariah-compliant services are emerging as the next hot trend in the financial space in India. Already quite a rage in the Middle East, these services are picking up pace in India as well. In the first week of this month, Reliance Money announced the launch of its Shariah-compliant Portfolio Management Services (PMS) in partnership with Parsoli Corporation.

In addition, a number of mutual fund houses like Reliance Mutual Fund, Way2Wealth, Edelweiss and UTI Asset Management also plan to launch Shariah-compliant services in the coming months.

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