{"id":3685,"date":"2024-05-21T15:44:23","date_gmt":"2024-05-21T12:44:23","guid":{"rendered":"https:\/\/sahfy.net\/news\/?p=3685"},"modified":"2024-05-21T17:14:34","modified_gmt":"2024-05-21T14:14:34","slug":"etoro-and-arabesque-ai-launch-sharia-compliant-portfolio-powered-by-ai","status":"publish","type":"post","link":"https:\/\/sahfy.net\/news\/?p=3685&lang=en","title":{"rendered":"eToro and Arabesque AI launch Sharia-compliant portfolio powered by AI"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Over<\/span><span style=\"font-weight: 400\"> the past ten years, Sharia-compliant stocks in the S&amp;P 500 have performed better than the index overall.<\/span><\/p>\n<p><span style=\"font-weight: 400\">eToro, the trading and investing platform, has partnered with Arabesque AI, an investment advisory and technology company, to launch a new Sharia-compliant portfolio for users in the Middle East. Named <\/span><a href=\"https:\/\/www.etoro.com\/smartportfolios\/sharia-aigrowth\"><span style=\"font-weight: 400\">ShariaAI-Growth<\/span><\/a><span style=\"font-weight: 400\">, the portfolio leverages Arabesque\u2019s AI technology and bank of environmental, social, and governance (ESG) data to identify high-growth US stocks that comply with Sharia principles.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cSince our launch in the UAE six months ago, our goal has been to tailor our services to meet the evolving needs of our users in the region,\u201d <\/span><span style=\"font-weight: 400\">explained<\/span> <b>George Naddaf, GCC &amp; MENA Regional Manager at eToro.<\/b> <span style=\"font-weight: 400\">\u201cOur recent survey of retail investors in the UAE found that 84% consider ESG factors before investing, with 35% emphasising the importance of their investments being Sharia-compliant.<\/span><span style=\"font-weight: 400\">1<\/span> <span style=\"font-weight: 400\">We are thrilled to announce our collaboration with Arabesque AI to offer a portfolio that leverages advanced AI technology and ESG data.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Sharia-compliant investment products have provided competitive returns over the long term. The S&amp;P 500 Shariah Index returned 14.25% per year for the 10-year period to the end of March 2024, compared to 12.96% per year for the regular S&amp;P 500 Index.<\/span><span style=\"font-weight: 400\">2<\/span><\/p>\n<p><b>Omar Selim, Group CEO of Arabesque<\/b><span style=\"font-weight: 400\"> said: \u201cWe are delighted to partner with eToro to deliver faith-based investment products at scale, powered by Portfolio Dragon and ESGBOOK.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">The ShariaAI-Growth portfolio comprises up to 40 US equities. The selection process is as follows:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Step 1: From the pool of US stocks available on the eToro platform, only those with a market cap of over US$1 billion and an average daily trading volume of over US$10 million are eligible.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Step 2: The eligible stocks then have to pass a business activities screen and financial ratio screens to guarantee their compliance with Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Sharia principles.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Step 3: The compliant stocks are evaluated with Arabesque\u2019s AI technology to select those with the highest expected returns, strong earnings growth over the previous 12 months and high ESG scores to be included in the final portfolio.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The portfolio is rebalanced <\/span><span style=\"font-weight: 400\">quarterly <\/span><span style=\"font-weight: 400\">taking into account expected returns, as well as risk and transaction costs. The Sharia screening process is based on t<\/span><span style=\"font-weight: 400\">he <\/span><a href=\"https:\/\/aaoifi.com\/ss-21-financial-paper-shares-and-bonds\/?lang=en\"><span style=\"font-weight: 400\">AAOIFI Shari\u2019ah Standard No. (21)<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Initial investment starts from US$500 and investors can access tools and charts to track the portfolio\u2019s performance, while eToro\u2019s social feed will keep them up-to-date on developments in the sector.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the past ten years, Sharia-compliant stocks in the S&amp;P 500 have performed better than the index overall. eToro, the trading and investing platform, has partnered with Arabesque AI, an investment advisory and technology company, to launch a new Sharia-compliant portfolio for users in the Middle East. Named ShariaAI-Growth, the portfolio leverages Arabesque\u2019s AI technology [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":3686,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[130,43,87,51,15,27],"tags":[],"class_list":["post-3685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured-en","category-finance-investment-en","category-gcc-en","category-islamic-finance-en","category-press-releases","category-technology"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>eToro and Arabesque AI launch Sharia-compliant portfolio powered by AI - sahfy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sahfy.net\/news\/?p=3685&lang=en\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"eToro and Arabesque AI launch Sharia-compliant portfolio powered by AI - sahfy\" \/>\n<meta property=\"og:description\" content=\"Over the past ten years, Sharia-compliant stocks in the S&amp;P 500 have performed better than the index overall. eToro, the trading and investing platform, has partnered with Arabesque AI, an investment advisory and technology company, to launch a new Sharia-compliant portfolio for users in the Middle East. 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