Doing Good or Simply Avoiding Sins: A study of the NIFTY50 Shariah Index Constituents

(Pages 902-906)

Adnan Ahmed Siddiqui*
Department of Management and Business Administration, Aliah University, II-A/27, Action Area II, Newtown, Kolkata – 700156, West Bengal, India.
DOI: https://doi.org/10.55365/1923.x2022.20.102

Abstract:

Negative screening to remove sinful enterprises is the current IBF approach, rather than positive screening to include firms who are proactive in addressing environmental and social concerns. This approach may make it more difficult to achieve the fundamental goals of Islamic rules, which are to promote social welfare. To address this problem, this article examines the ESG performance of the component equities of the Nifty 50 Shariah Index, the benchmark index for Indian shariah-compliant financial products. These have a good overall ESG performance. The governance performance, on the other hand, lags behind the environmental and social performance. Given the overall performance of the Index, the SHARIAHBEES ETF is another promising ESG investing choice.


Keywords:

Islamic, ESG, NSE, Shariah-compliant.


How to Cite:

Adnan Ahmed Siddiqui. Doing Good or Simply Avoiding Sins: A study of the NIFTY50 Shariah Index Constituents. [ref]: vol.20.2022. available at: https://refpress.org/ref-vol20-a102/


Licensee REF Press
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