Purpose – The purpose of this paper is to analyze the impact of applying alternative Shariah screens on the resulting universe of halal assets and to show that Shariah screening procedures currently used in practice are inconsistent with respect to discriminating between halal and haram....

In this paper we analyze the effects of different strategies to construct Shariah compatible financial portfolios. The difference between conventional and current Shariah portfolio management is the application of sector screens and financial screens by which the asset universe is reduced. Yet,...

From 2012 on aviation is included in the European Emissions Trading Scheme (EU ETS) and operators have to hold one allowance per tonne of CO2 emitted on every flight departing from and/or arriving at an airport within the EU. Now two questions are of interest: Is it profitable for airlines to...

Purpose – The purpose of this paper is to analyze the impact of applying alternative Shariah screens on the resulting universe of halal assets and to show that Shariah screening procedures currently used in practice are inconsistent with respect to discriminating between halal and haram....