Shariah-compliant funds have been present in asset management through mutual funds (MF) and portfolio management services (PMS) in India. These funds primarily cater to investors who abide by Shariah laws, which lay out the guidelines on sectors and companies that are Shariah-compliant. The Islamic community had refrained from investing in the equity markets primarily because the income earned would not be halal (permissible). An investment may not be considered Shariah-compliant if it fails to meet the requirements of Shariah laws.
