Parsoli UK, a wholly owned subsidiary of Parsoli Corporation -- a company listed on the Bombay Stock Exchange -- on Thursday said it was launching stock broking service compliant with Islamic law.

In a notice to the BSE, Parsoli said its stock broking services will "help Muslims previously devoid of any credible Shanan-based investment avenues."

Attempts to contact Uves Sareshwala, managing director, Parsoli Corporation failed as the telephone numbers quoted on the BSE Web site were "Out of order." Attempts to contact the promoters in Ahmedabad, on telephone numbers cited on the Parsoli website, too proved futile.

Parsoli Corporation is a corporate member of the National Stock Exchange, and according to its Web site (www.parsoli.com), too proved futile.

But its Web site says Parsoli Corporation offers project and issue management consultancy, forex advisory services, money changing services, travel and tour management services, besides stock broking. Parsoli has offices in Riyadh, Ahmedabad and Mumbai.

Parsoli Corporation was established in November 1990, as Parsoli Investmens and Trading Company, to provide "retail stock broking and financial services," according to the Web site.

"The prime motivation to set up the company was to tap the vast and untapped potential Muslim investments in India. . . to cater to a niche sector in India, namely Muslims, who require financial products which are consistent with certain religious principles," the Web site says.