HSBC's Islamic Global Equity Index Fund, with over $8 billion in assets, spent more than $130 million to buy shares in at least five companies tied to the Israeli military's supply chain in the first half of 2026, according to Al Jazeera. This move allegedly breaches the fund's own Sharia compliance requirements, which exclude investments in businesses with significant exposure to non-permissible revenue sources like weapons. The investments include $38.3 million in US tech giant Palantir, $35.7 million in arms company RTX, and $20.3 million in semiconductor firm Analog Devices.