CEO and president of Shariah Funds Inc
Eric Meyer is the newest figure in Islamic
finance and one of the most unusual. A youthful 42-year-old
Catholic New England fund manager turned hedge-fund manager,
turned venture capitalist, turned Islamic finance opportunist,
his attempt to launch a Shariah-compliant hedge fund is
causing a big stir in a small pond.
Shariah-compliant hedge funds are a contradiction to many
Muslims. Everything about them seems to violate core Islamic
finance principles. Money has no intrinsic value in Islamic finance
so securities have to represent real assets and trading them for
anything other than their face value is highly questionable. So
hedge funds, which use derivatives and leverage, and which short
securities, would seem to be a no-no.
Meyer and his Shariah scholars claim to have developed
mechanisms that will enable Shariah-compliant investors to move
into...
You must be a Level 2 subscriber to access this archived content.
If your subscription includes access to the archive, please log in now to view.
To gain access to this content visit the subscription page or call our hotline on +44 (0)207 779 8999.
Subscribe online now and save up to 30% on your subscription.
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
Level 1:
- Online access to the past 12 months content
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Level 2:
- Exclusive access to euromoney.com - Read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 2000
- 12 monthly issues of Euromoney magazine
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe