Why? Was space exploration incompatible with Sharia? Is it the pornography bit of xAI?
Dogs went into space. Dogs are haram. Therefore, space is haram.
Probably not this reasoning.
Advertising, presumably. But that also excludes, like, all of big tech?
One presumes it's because a huge amount of its revenue comes from defense contracts, which are haram. Here is n excerpt from the fund's exclusion criteria:
> S&P 500 Shariah Industry Exclusions. The index universe consists of all the constituents in the S&P 500 Shariah, excluding companies classified as part of GICS sub-industries 20101010 (Aerospace & Defense), 40203040 (Financial Exchanges & Data), 40201060 (Transaction & Payment Processing Services).
That is wild. Saudi Arabia which is governed by sharia law spends about 7% of its GDP per year on its military. I had no idea that ownership of defense contractors is considered haraam.
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opinions vary, but this was the opinion adopted when formulating this index
it probably makes it easier to ship in europe where some private banks and pensions (eg denmark gov) ban defence investment
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thanks for the explanation and digging up the exclusion criteria.
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Ketamine (and pump and dumps) is haram