Ethical investment funds or socially responsible investment funds (SRIFs) became among the most important financial instruments encouraged corporate social responsibility at the level of financial markets as investors rushed to financial products Which agree between social and environmental responsibility for investment with acceptable performance. Since investors become more aware of the benefits of Ethics and socially responsible investment, the interest in Islamic investing and Ethically Based Investment is also increasing.This paper is concerned with the role of ethical investment funds andIslamic investment funds  in economic development and raising growth rates through the promotion of the financial market.This paper addresses four key points, First, the concept of ethical investment and Islamic investment, secondly the concept of Islamic and Islamic investment funds,thirdly study the role and importance of ethical investment funds and Islamic funds in financial market. And finallycomparing ideas, ratios and investment styles underlying SRI and comparing them to Islamic portfolios. with a qualitative assessment of the differences and similarities, SRI and Islamic derived from the application of the investment screens. The paper concluded that the creation of socially responsible investment funds should be considered to meet the wishes of all segments, particularly Ethical Investors.