Islamic index launched in Bombay Stock Exchange (BSE)

Bombay Stock Exchange has launched Islamic index. Main objective is to provide a suitable environment for Muslims who are hesitant of using normal stock exchange activities due to certain religious concerns. These concerns are related to nature of company where investment is going to take place. Also interest based activities are strictly prohibited in Islamic Sharia.

It is very positive and should be appreciated that in economic filed, Indian business community have acted professionally without any religious bias.

Surprisingly, i became a little bit disturbed by reading this news. The reason was that we got a separate country by chanting slogans of Islam and now we are without any Islamic ideology. Instantly i Googled for any clue of Islamic index in Pakistani stock exchanges. And i found that The Karachi Stock Exchange (KSE) and Al-Meezan Investment Management Limited (Al Meezan Investments) launched the Pakistan’s first co-branded Islamic Index, KSE-Meezan Index (KMI).

To bridge the gaps among religious and less religious classes in Pakistan, Government and private sectors should try to come close by such steps in every filed of life.