| The Bombay Stock Exchange launched the BSE TASIS Shariah 50 -a stock index that is compliant with Shariah. The Index cannot invest in shares of companies in which of the following sectors? |
| I. Banking |
| II. Cement & steel |
| III. Alcohol & tobacco products |
A) I only
B) I and II only
C) III only
D) I and III only
Correct Answer: D
Solution :
[d] The Bombay Stock Exchange launched the BSE TASIS Shariah 50 - a stock index that's compliant with Shariah, the Islamic law. The stocks in this index are monitored by Taqwaa Advisory and Shariah investment Solutions (TASIS). Shariah compliant means complying with Islamic law, which prohibits members from investing money into firms that benefit from interest or the sale of "sinful" goods such as alcohol, tobacco or firearms.
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