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2005: Indian Muslim Statements
For Latest Indian Muslim Statements click here
Archive of Indian Muslim Statements click here

Idafa Investments Pvt. Ltd. 

List of Shariah Compliant Companies Released

Mumbai, 23 May, 2005: Idafa Investment Pvt. Ltd., a shariah compliant stocks investment firm, has released a list of shariah compliant companies based on the BSE 500 Index. The list was released by Mr. Ahmad Randeree, Chairman of DCD Group, promoters of Islamic Bank of Britain and Bank al-Islami of Pakistan.

The list was released at an “Investors’ Education Programme” organized by Idafa Investments Pvt. Ltd. at Islam Gymkhana in Mumbai on 21st of May 2005. In the programme Mr. Samir Mistry of the Tata Mutual Fund (TMF) spoke on “The Art of Picking Stocks” and Mr. Imtiyaz Merchant, a Market Analyst spoke on “The Science of Timing the Markets”. Both sessions were followed by a question and answer sessions.

Mr. Samir Mistry is a Fund Manager with TMF which had floated the only shariah compliant Mutual Fund in India, called the Tata Select Equity Fund. Mr. Imtiyaz Merchant is an expert market analyst who advises the investment wing of the Larsen and Toubro and several share brokers.

Mr. Ahmad Randeree, an NRI from Gujarat, in his valedictory note appreciated the pioneering effort by Idafa investment and said that stockbrokers in other countries should emulate such efforts as well. He also explored the possibilities of multinational Islamic financial institutions coming to India.

:: Click here to view the list of Shariah Compliant Companies in BSE 500

Mr. Ashraf Mohamedy
Managing Director

Idafa Investments Pvt. Ltd.
Mimson House 2nd Floor, 92, L.T.Marg, Opp. Crawford Market, Mumbai 400003
Ph: 022-23472118; Fax: 022-23438533, Email:, Web:


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