Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Oman- Muscat Securities Market reconstitutes Shariah Index  Join our daily free Newsletter

MENAFN - Muscat Daily - 17/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Muscat Daily) The Muscat Securities Market (MSM) on Tuesday revised the constituents of the bourse's Shariah Index. The index revision will be effective from June 22.

The MSM Shariah Index, which currently includes 30 listed companies, will now have 31 companies that comply with the Accounting and Auditing Organization for Islamic Financial Institutions  (AAOIFI) requirements for Islamic investment principles.

The AAOIFI is an Islamic international, autonomous, not-for-profit corporate body that prepares accounting, auditing, governance, ethics and Sharia'a standards for Islamic financial institutions and the industry.

''The MSM would like to announce the new MSM Shariah Index constituents that have passed the AAOIFI rules for compliance with Islamic investment principles. The new sample will be effective from Sunday, June 22,'' said Jameela Ali al Hammi, acting director of operations at the MSM, in a circular issued on Tuesday.

Two new listed companies, namely Oman Education and Training Investment Holding and Computer Stationary Industry, have joined the Shariah Index constituents, based on their first quarter financials of 2014.

The MSM excluded Gulf International Chemicals Co from the MSM Shariah Index constituents, as the company failed to maintain its liquidity factor as per the requirements of the Shariah Index.

For the Shariah Index constituent firms, the total sum of liquid assets should not exceed 67 per cent of total assets. In all, 29 companies, whose activities and financial approach meet the requirements of Sharia'a as issued by AAOIFI, maintained their place in the Shariah Index.

The major constituents of the index include Omantel, Nawras, Shell Oman Marketing, Oman Cement, and Raysut Cement.

 


Muscat Daily




  MENA News Headlines
 Oct 1 2016 - Saudi economic growth hits slowest rate in Q2MENAFN
(MENAFN) Government data showed that Saudi Arabia's economy grew at its slowest rate in more than three years between April and June.Also, growth has been weakening since early 2015 as cheap oil ...

 Oct 1 2016 - New regional deadline in Gulf States by 2021MENAFN
(MENAFN) UAE's Minister of Infrastructure confirmed that the six Gulf countries have agreed in principle to push back the completion date of a 2,100 kilometer transnational rail network stretching ...

 Oct 1 2016 - GCC mobile transactions higher by 4% in H1 of 2016MENAFN
(MENAFN) A new study showed that the shares of mobile transactions in the GCC at 43% in higher than the global average by 4%.Also the report has provided insights into consumer shopping habits and ...

 Oct 1 2016 - UAE- Mercedes' rivals contest F1 ChampionshipKhaleej Times
(MENAFN - Khaleej Times) The Petronas Malaysia Grand Prix takes place at the Sepang Circuit, Kuala Lumpur, on October 2. Responsive interactive graphic shows animated circuit map, with details ...

 Oct 1 2016 - UAE- Wrightbus International signs partnership with Al Habtoor MotorsKhaleej Times
(MENAFN - Khaleej Times) Al Habtoor Motors will become the official distributor for Wrightbus International's products in the United Arab Emirates. Wrightbus International has signed a strategic ...

 Oct 1 2016 - UAE- Free parking in Sharjah for Hijri New Year holidayKhaleej Times
(MENAFN - Khaleej Times) Sharjah Municipality has announced free pre-paid parking across the emirate on the occasion of the Hijri New Year holiday, which falls on Sunday. Attif Al Zarooni, ...

 Oct 1 2016 - UAE- Sharjah International Narrator Forum closes with great successKhaleej Times
(MENAFN - Khaleej Times) The three-day event of the 16th edition of the Sharjah International Narrators Forum (SINF), organised by Sharjah Institute for Heritage (SIH), has concluded with the ...

 Oct 1 2016 - UAE- PHOTOS: Fire guts Sharjah apartmentKhaleej Times
(MENAFN - Khaleej Times) Afire gutted an apartmentin a building at Al Wanda Streeton Thursdaynight. According to Lt. Col Sami Al Naqbi, the fire started at11 pmin apartment no 802 of Al Tawoon ...

 Oct 1 2016 - UAE- New Zealand bowlers put India on backfootKhaleej Times
(MENAFN - Khaleej Times) Former captain Ross Taylor leads the side at Eden Gardens instead. New Zealand bowlers put India on the backfoot despite fighting half-centuries from Cheteshwar ...

 Oct 1 2016 - UAE- KT Poll: Pakistan's Yasir Shah, not Ashwin, is world's best spinnerKhaleej Times
(MENAFN - Khaleej Times) Yasir Shah got 68 percent of the votes Yes, we now have got the complete result. And we are delighted to announce that Khaleej Times readers have picked Pakistan's Yasir ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help