SP Funds expresses concern about Apple's supplier hiring practice

LAKE MARY, Fla., May 20, 2021 (GLOBE NEWSWIRE) -- SP Funds has taken note of the deep concerns of its investors and the public of the alleged use of forced Muslim labor by some of Apple Inc. Chinese suppliers. According to various human rights and labor transparency organizations, as reported in The Washington Post, Lens Technology is one of at least five companies connected to Apple's supply chain that is linked to forced labor using Uighur Muslims who are being transferred to labor camps or detention centers.

SP Funds understands how sensitive this issue is for ethical investors. Ethical and Socially Responsible investors are especially attracted to SP Funds due to their strict adherence to ethical standards in their ETFs. The Department of Justice is currently conducting a thorough investigation into these unfortunate allegations. SP Funds looks forward to the findings which shall guide their decisions on Apple's inclusion in their ETFs.

"We await the findings of the ongoing investigation by the Department of Justice. Once we have the facts at our disposal, we will be in a better position to determine our approach to Apple's stock within our ETFs. We are committed to socially responsible and ethical investing," commented Naushad Virji, CEO, SP Funds.

About SP Funds
SP Funds is the home of North America's largest family of Sharia-compliant ETFs, is dedicated to offering an ethical approach to investing that avoids companies with significant debt or involved in prohibited business. By adhering to AAOIFI guidelines, SP Funds ensures that the securities in its ETFs avoid investments in businesses such as tobacco, pornography, gambling, and interest-based finance. This results in a collection of socially responsible investments that are in well capitalized companies. For more information, visit sp-funds.com.

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Salaudeen Nausrudeen, Marketing Manager
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917-962-7828