Islamic Banking

New Shariah Equity Index Launched

Stephen Harris, 27 June 2005

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The Dow Jones Islamic Market family of indices has a new member. Dow Jones has joined forces with Malaysian financial services firm, RHB Se...

The Dow Jones Islamic Market family of indices has a new member. Dow Jones has joined forces with Malaysian financial services firm, RHB Securities, to create the Dow Jones-RHB Islamic Malaysia Index.

The new Shariah-compliant index comprises 45 companies and excludes alcohol, tobacco, pork-related, financial services, defence and entertainment stocks.

Dow Jones said there is growing demand for Shariah-compliant equity indices that meet international Islamic finance standards and that is has its own Shariah supervisory board to oversee their development.

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