Daiwa launches Japanese sharia compliant ETF
Daiwa Asset Management is to launch a sharia compliant Japanese equity ETF on the Singapore Stock Exchange. The ETF contains the 100 largest constituents by market cap from the FTSE Japan Universe.
“This is the first product that Islamic investors to able to use to access the Japanese stock market,” says Seiichiro Iwai, Deputy General Manager, Daiwa.
“The reason why we have chosen SGX is the fact that Singapore is aiming to be the centre for Islamic finance.” Compared to overseas stock exchanges, there are only 14 ETFs listed on the Tokyo and Osaka exchanges because of a strict regulatory regime.
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