and TASIS have conducted workshops in the past and have now decided to launch a full online certification.
Dr Shariq Nisar, Director TASIS stressed the importance of Islamic finance education.
At least the BSE TASIS
Shari'ah 50 index will serve as a guide to Indian Muslims to help them invest in Shari'ah-complaint stocks.
TASIS has certified e-gold, e-silver and e-copper products as Shariah compliant Ethical Instruments conforming to Islamic Investment principles, based on a thorough study and scrutiny of NSEL systems and procedures.
MH Khatkhatay, Senior Advisor, TASIS said, "Every Indian citizen, who follows Islamic investment principles should greet this opportunity.
Aziz Jadwet, 38, who studied Islamic finance at an institution in Dubai, said he believed many Indian Muslims who were previously hesitant about stock investments would feel more confident about investing using the TASIS index.
We believe the TASIS index is superior" to many rival indices elsewhere "as stocks screening is more conservative and better tuned to achieving sharia objectives," added Mohammed Hussain Khatkhatay, a TASIS senior advisor.
TASIS said the index would iunlock the potential for Sharia investments in India".
Bombay Stock Exchange has the largest number of listed Sharia-compliant stocks in the world," said Shariq Nisar, director of research and operations at TASIS.
The BSE TASIS
Shariah 50 index includes some of India s market leaders such as conglomerate Reliance Industries Ltd, IT services provider Tata Consultancy Services, car maker Maruti Suzuki, and telco Bharti Airtel, the stock exchange said.
The BSE TASIS Shariah 50 index consists of the 50 largest and most liquid Shari'ah compliant stocks within the BSE 500.
TASIS employs a strict, proprietary screening process utilising their knowledge of and local access to listed Indian companies to ensure that all stocks included within the BSE TASIS Shariah 50 are strictly compliant with Islamic Shari'ah law.