Parsoli Corporation Adjudged Best Islamic Brokerage Company in the World

Mumbai, 24 January 2008 –- In one of the most comprehensive surveys covering the world of Islamic banking and finance, India’s Parsoli Corporation has been adjudged as the “Best Islamic Brokerage Company” for 2007. Some of the giants, who are among the winners, include, Ernst & Young, Dow Jones Islamic Index, Prudential Fund Management, and Standard & Poor’s.

The survey covering a total of 35 categories was conducted by Islamic Finance News, represented all major facets of global Islamic capital markets industry, and the survey attracted an active participation of Islamic finance issuers, investors, non-banking financial intermediaries and government bodies from around the world.

While Ernst & Young claimed the Best Islamic Advisory Firm award and Dow Jones Indexes was selected for its impressive array of Islamic-based indices, Parsoli Corporation bagged the Best Islamic Brokerage Firm award for a series of initiatives that it took in the last 12 months to facilitate the participation of the Muslim community in India’s stock markets.

Parsoli will pick the award at a gala ceremony, which will be organised in Dubai on 26 February 2008 at Shangri-La Hotel.

A pioneer of Islamic investment and finance in India, Parsoli Corporation, came into limelight when it created India’s first Islamic Equity Index. However, it has been making waves in the last 12 months for a series of Islamic Investment Opportunity Conferences across the country. Mr Zafar Sareshwala, the CEO and Managing Director of Parsoli, says, “The idea was that the members of the Muslim community should be a partner in India’s unfolding growth story. The country has more Shariat complaint stocks than many Islamic countries of the world and the Muslims can invest in them without compromising their religious beliefs”.

As for winning the award, Mr Sareshwala says, “It’s the credibility, high degree of transparency, and world class services to clients that really counts for us. We, of course, want to grow, but in a socially responsible manner, and that’s why through Shariat compliant investment we are promoting socially responsible investment in India’s capital markets”.