InvestorQ : I want start a sip which should be sharia compliant and also helps to save tax... Is there any elss which is sharia compliant in India
Kamil Hasan made post

I want start a sip which should be sharia compliant and also helps to save tax... Is there any elss which is sharia compliant in India

Answer
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Riya Dwivedi answered.
1 year ago


The Sharia-compliant fund refers to investment as per Sharia law of Islamic rules. As Islam prohibits charging interest on deposit and alcohol, Sharia-compliant fund invest does not invest in such funds. These funds are created to receive funds from the Islamic section of the country. Since SEBI has laid nor ruled for Sharia funds, there are only few schemes. Tata Ethical, Taurus Ethical, and Reliance ETF Shariah BeES are the only three fund with Sharia compliance. Below is the performance of these schemes :

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