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Reliance Money, the retail broking wing of Anil Dhirubhai Ambani Group on Thursday, May 1, 2008 joined hands with Parsoli Corporation to launch India’s first Shariah-compliant Portfolio Management Scheme for Muslim investors in India. Reliance Money will offer the Portfolio Management Scheme for as low as Rs 5 lakh to its Muslim investors in India and west Asia.
Parsoli Corp with which Reliance Money has collaborated for the Shariah-compliant services has recently been awarded the ‘Best Islamic Brokerage firm’ in the world for 2007. Reliance Money CEO Sudeep Bandhyopadhyay asserted that a significant part of India’s population has not been provided with appropriate financial products in compliance with the pertinent religious sentiments. Mr. Sudeep further added that Parsoli Corp would work together with his company to ensure compliance with Shariah laws in the relevant schemes launched by Reliance Money.
