Hejaz Financial Launches Two Sharia-Compliant ETFs

Earlier this month, Hejaz Financial Services announced the launch of two new ETFs looking to be the first Australian funds that are Sharia-compliant. The funds are, the Hejaz Equities Fund (ISLM) and the Hejaz Property Fund (HJZP), and they’re available for trade on the ASX. Both funds are Sharia-compliant meaning they will not invest in companies in sectors of tobacco, gambling, adult entertainment, conventional banking, weapons, and pork. ISLM invests in developed markets seeking results similar to the MSCI World Islamic Index Benchmark and HJZP invests in global REITs and is benchmarked to the MSCI World REITs Index.

ETF Newz Says:

Both ETFs look to provide Muslims and ethically conscious investors access to more options.

Heavily Traded ETFs
SPDR S&P 500 - SPY
Invesco QQQ
Vanguard S&P 500 - VOO
Vanguard Total Market - VTI
Energy Select Sector - XLE
Related

BlackRock Introduces TIPS ETF Suite to iShares iBonds Lineup

BlackRock, a global investment management corporation, has expanded its iShares iBonds ETF offerings with the introduction of the...

Grayscale Takes a Bold Step with Ethereum Futures ETF Filing

Grayscale Investments, a leading crypto asset management firm, has submitted a filing for a new ETF focused on...

SEC Under Scrutiny Over U.S. Spot Bitcoin ETFs Decision

The U.S. Securities and Exchange Commission (SEC) faces criticism from a U.S. appeals court over its decision-making process...

Grayscale Continues Efforts To Launch Ethereum ETF

Grayscale Investments, a subsidiary of the Digital Currency Group (DCG), is making significant strides by applying for an...