« Le fond islamique Al-Dar », créés par Pictet, une banque privée basée à Genève, sont-ils conformes à l’Islam ?

Is "Al-dar islamic Fund", created by pictet, a Geneva based Private Bank, compliant with the islamic culture? The answer is no. The contained shares are not islamic compliant and secondly the targeted profile (islamic investor) is misunderstood. Those two issues bring the following questions: Why? And what should have been done differently to fit to culture of the islamic investor? First of all, we tried to determine what the cultural mistakes done by pictet are, in a second step, we determined the differences between the non-islamic and the islamic investor and finally we defined a matrix to be used when creating an islamic compliant financial instrument. The conclusion of this paper is that cultural differences are not only raised because of human direct interactions, but also through elaborated instruments or services provided to each other. In a global World of trade, proposing an islamic culture compliant fund should be made with more cultural analysis and not only through a pure financial approach or a basic islamic image compliancy test. The local diversity is to focus on, even if we should think global working for a multinational Private Bank. Therefore, Private Banks should use a different approach than actual or risk entering into sensitive and controversial multicultural issues, which is, in a bank, computable in terms of reputation, money and loss.