Muscat bourse reconstitutes index for Sharia companies

29/12/2014 06:18 AST

Muscat Securities Market on Sunday reconstituted its Sharia index by adding two new companies and removed four other companies from the index.

The index include Al Saffa Foods, Al Anwar Ceramic Tiles, Al Izz Islamic Bank, Al Jazeera Services, Takaful, Al Maha Ceramics, Bank Nizwa, Construction Materials Industry, Dhofar Beverages and Food Stuff, Al Batinah Development and Investment Holding, Dhofar Refreshments and Foodstuffs, Gulf Mushroom Products, Majan Glass, Muscat Gases and Muscat Thread Mills.

The list also contains National Biscuits Company, Oman Cement Company, Oman Chlorine, Oman Chrome, Oman Fiber Optic, Oman Flour Mills, Oman Oil Marketing, Oman Refreshments, Oman Telecommunications Company, Oman Textile Holding, Ooredoo, PSC, Raysut Cement Company, Shell Oman Marketing, Oman Agricultural Development, Oman Sweets and Takaful Oman Insurance.

MSM's Sharia-compliant index has 30 joint stock companies that are complied with Sharia law. The sample companies are reviewed by the bourse every three months to add or delete companies according to their compliance with the criteria.

Islamic indices will attract new category of investors who prefer to have reliable references that ensure compliance of their investments to the Sharia rules and regulations.


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