Most conventional financial products currently on offer to Muslims in the Indian Market are incompatible with Islamic religious principles; there is a recognized demand for alternatives within this niche community.
Islam forbids the paying and receiving of interest, and involvement in companies having high degree of impure interest income or high debt or those involved in banking, life insurance, alcohol, tobacco, gambling, Non-Halal meat or pornography.
Till date, a large percentage of Muslims in India are currently forced to opt out of the conventional financial system or compromise their beliefs. Muslims aspire to invest in accordance with Islamic principles but investment products and services in India are invariably incompatible with Shariah principles.
Parsoli has developed and is developing products to meet this demand. Being one of its kind, Parsoli is proud to offer an Islamic Financial portal, www.islamicequity.co.in meant specifically for investors interested in investing in Shariah compliant equities.
In India, Investment in equities through the various Stock Exchanges is still in its infancy stage among Muslims. Even though the Indian Muslims are aware of the investment opportunities in Equities through the Stock Exchanges, most of them prefer to stay away from it as they visualize that either it is risky and unsafe to invest in the Stock or they think it as a taboo.
India has the second largest Muslim population in the world. In India, the Islamic Investment is gathering pace as Muslims in the country are becoming more vocal in their demands for greater self-expression. The Indian Stock Market has come a long way. The Securities Exchange Board of India (SEBI) is gearing up the Indian Capital Market towards Globalization through international standards and norms being implemented by it. Today the Indian Markets are comparable to any leading markets of the World.
Hence there is a great potential in India itself. Even if a small percentage of this population can be persuaded to invest in the equities, the amount of money that can be brought into the system could be enormous.