Srinagar, July 31 -- On a cloudy afternoon in Srinagar's Soura locality, Muheet, 29, sat in a small cafe, flipping through a financial brochure on Halal funds and scanning every word with quiet determination.

A former gold investor and aspiring homeowner, Muheet never imagined he would one day consider mutual funds. But times have changed - and so have investment choices in Kashmir. "Gold is beyond my reach now. A single tola costs more than a month's salary. As for buying land or a flat? That's a dream slipping further away every day," he said.

Aamir, like a growing number of Kashmiris, is now looking toward Shariah-compliant investments - specifically Halal mutual funds that align with Islamic principles. These funds avoid businesses ...