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I have heard about Shariah BeES, what is it and is it permissible as per Islamic laws?

April 26, 2017bees Business Finance heard Investing Islamic Laws permissible shariah

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I have heard about Shariah BeES, what is it and is it permissible as per Islamic laws?

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Constituents Shariah BeES are screened for Shariah compliance and then included in the index, companies from sectors of Alcohol, Gambling, Financials, Advertising and Media, Pornography & Tobacco are excluded. S&P has contracted with Ratings Intelligence Partners (RI) to provide the Shariah screens and filter the stocks based on screens, RI’s team consists of qualified Islamic researchers who work directly with a Shariah Supervisory Board and has a board of Islamic scholars serving to interpret business issues and recommend actions related to business decisions for the indices.