Advisors might want to bone up on the rules governing retirement investments under Islamic guidelines—particularly since many American Muslims are following those religious guidelines within their retirement portfolios.
The New York Times reports that those guidelines screen out plenty of what otherwise might be considered acceptable investments: “companies and funds,” the report says, “that trade in a host of forbidden goods and services,” termed haram.
Among those forbidden categories are alcohol, tobacco, pork products, “immoral” media or entertainment (such as pornography) and quite a long list of other things.
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