(BNN Bloomberg) Once seen as a niche market, halal investing is gaining traction with investors for reasons beyond faith.
While the growth is driven by Canada’s 1.5-million-strong Muslim population, interest is expanding outside the community as investors look for alternatives that promote sustainability and long-term value creation, said Samir Azam, portfolio manager at RBC, in an interview with BNN Bloomberg on Wednesday.
“I believe it’s got a broader appeal just because of the values and the ethical beliefs,” said Azam.
Halal investing means it is compliant with Islamic values and Sharia law. Halal means “permissible” in Arabic.
The global Islamic finance market is widely reported to have a current value of $5.4 trillion as of last year.
