{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI EM Islamic UCITS ETF is a physically replicated fund that directly holds the underlying equity securities of its benchmark index. It does not employ leverage, inverse strategies, or synthetic replication methods. The fund's objective is straightforward: to track the performance of the MSCI Emerging Markets Islamic Index through physical replication. There are no mentions of derivative instruments, swaps, or complex financial structures in the KIID or factsheet. The risk profile is primarily driven by emerging market equity exposure and currency risk, which are standard for equity ETFs. The fund is UCITS-compliant, further supporting its classification as non-complex under MiFID II.",
    "confidence": 95,
    "risk_level": 6,
    "counterparty_risk": false,
    "liquidity_risk": true,
    "currency_risk": true,
    "shariah_compliance": true
}