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Rating:Market Rewards Islamic Fund for Avoidance of Financial Institutions Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, November 19, 2007

Market Rewards Islamic Fund for Avoidance of Financial Institutions

by: Erin Kello

This year the market has been good to a mutual fund that invests based on the principles of Islamic law. The WSJ reports that the Amana Income Fund is one of the year's top performing funds due to the fact that Islamic law prohibits investing in institutions that charge interest and those that carry a lot of debt, like banks and financial institutions. These are the very same institutions that have been at the leading edge of the subprime mortgage crisis.  

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