The Indian equity market is an excellent avenue for Islamically acceptable investments. Presently, it offers an ideal alternative, perhaps the only alternative, to the Indian muslim investor who would like to conform to Shariah in the matter of personal finance. This is because of a near-total absence of halaal financial assets, such as, deposits with Islamic financial institutions. The Indian equity market, with its enormous potential for growth, competes favorably with other developed and emerging equity markets in attracting ethics-conscious global portfolio managers and high net-worth individual investors. The funds that are waiting to be invested domestically could be staggering, given the sheer size of Indian muslim population - the second largest in the world. At the same time the numbers relating to global Islamic funds are equally impressive. Various estimates put the number at about 60-80 billion US dollars growing at a rate of 15 percent per annum. A proportion of such funds could always flow into Indian equities, provided these conform to norms of Islamic ethics. However, there are currently no information-related services available and no systematic research and analysis being undertaken that could facilitate such an inflow of Islamic investments.

Source-Islamicequity.co.in

Yes...lots of large international banks are foraying into Shariyat-compliant investment services for ME clients.

At last count, funds worth a billion dollars had lined up to invest in the Indian stock market.

Religion & money. Worst combination!! but who to care till people are making money.