Sharia ETF listing on NYSE is a first

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Javelin Investment Management has launched the first sharia-compliant exchange-traded fund (ETF) in the US. The fund will be based on the newly launched Dow Jones Islamic Market International Titans 100 Index.

All index components are ex-US. Stocks were not eligible for inclusion in the index if their business involved alcohol, tobacco, financial services, pork-related products, defence and weapon production or the entertainment industry.

If the company's debt, cash plus interest-bearing securit

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