Wahed introduces UCITS ETFs combining Shariah screening with ethical oversight
Wahed has launched a suite of UCITS equity exchange-traded funds (ETFs) in Europe that combine Shariah screening with an additional discretionary review based on Islamic ethical and human rights principles, following approval from the Central Bank of Ireland.
The Ireland-domiciled ETFs are designed to meet standard Shariah requirements, including the exclusion of sectors such as alcohol, gambling and conventional financial services, while also applying an added values-based assessment intended to address broader ethical considerations.
Mohsin Siddiqui, chief executive of Wahed, said the additional screening reflects core Islamic principles that extend beyond financial compliance. “Principles such as responsibility, the protection of human dignity and the avoidance of harm are embedded in Shariah,” he said, adding that the framework is intended to apply those values to contemporary global challenges.
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Muhammad Ali Bandial