S&P opens Bric economies to sharia investors

Standard & Poor's (S&P) has launched the S&P Bric Sharia Index to capture the largest and most liquid stocks in Brazil, Russia, India and China that meet sharia criteria and currently trade on developed market exchanges - specifically the Hong Kong Stock Exchange, London Stock Exchange, Nasdaq and the New York Stock Exchange.

S&P already offers sharia-compliant versions of the S&P 500, S&P Europe 350 and S&P Japan 500, as well as its S&P GCC Middle East Sharia Index Series.

"Each of the

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