Israel Discount Bank subsidiary Mercantile Discount Bank is set to launch “kosher” mutual funds which will invest in companies that operate according to Halacha. The fund’s halachic arbitrator will be Rabbi Arieh Dvir, who heads an institute specializing in economic research and halacha. Mercantile Discount CEO Jacob Tenenbaum confirmed the report to Globes, and said that the move represented part of the bank’s strategy of becoming the leading banking institution in the Charedi
(Source: Globes)
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4 Responses
Love teh religious idea’s!
Perhaps we’re talking about ribbis? Mutual funds may come under those guidlines.
Hate to tell you guys, this is one we stole from the Goyim.
Religious Christens and Muslims have had funds like this for years.
In fact, a number of banks here in the US have mortgages set-up for Muslims – so they do not violate any of their rules regarding interest, etc..
What about companies that a Shomer Shabbos, and Kashrus, etc. For instance to exclude companies such a Tiv Taam, etc.