Islamic indices “guarantee” Sharia compliance

Oriental_mosaicThe first Islamic benchmarks to offer research-backed Sharia screening based on a globally accepted standards have been launched. According to Thomson Reuters and IdealRatings, the two organisations behind the indices, the index family guarantees the most recent Sharia-compliant status. The indices are reviewed on a quarterly basis to ensure they meet relevant sector, financial and general considerations. The two firms said that Islamic investors are seeking evolved screening methodologies and deeper sector coverage in order to benchmark and create funds and investment vehicles “to tap into this increasingly liquid market”. The index family includes compliant companies in over 60 countries and covers the global equity markets in nine regions, such as the Middle East and North Africa, in addition to individual country indices and sectors. ©2011 funds europpe

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