Just as giant chains such as Safeway and niche players such as Whole Foods have found ways to slice up the food supermarket arena, fund supermarkets are becoming more specialized. Now, you can even shop by religion.

The muslim-targeted portal IslamiQ has unveiled its IslamiQFunds supermarket to distribute funds. The service is a follow-on to its IslamiQStocks.com sites. The firm said that the site offers eighteen "Islamically structured funds", which account for around a fifth of the total Islamic funds market. It adds to expect more funds during this quarter.

Founder Dr. Hasnita Hashim is betting that the Islamic world is ready to move away from deposit-based savings accounts which have dominated the mid-east and move to investment-based savings vehicles such as funds.

The site offers investment products that are in line with Shari'ah principles.

The site will focus on a wider Muslim investor base than just institutional or high net worth investors, he said.  

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