Dubai - Mubaher: The Dubai Financial Market has announced that launch of the first Shari’a Index in the UAE, DFMSI, according to a statement released on Tuesday.
The new index will support DFM’s efforts to attract more Islamic investments by providing market participants with a benchmark to measure the performance of Shari’a-compliant listed securities to take their investment decisions accordingly.
DFMSI is accessible through DFM’s website, mobile phone applications, and any other data dissemination platforms run by the DFM or licensed market data providers.
“As the first Shari’a-compliant exchange globally since 2007, we are pleased to launch this new initiative that underlines DFM’s active role in the joint efforts to fortify Dubai’s leading position as capital of Islamic economy globally,” DFM’s chairman Essa Kazim commented.
The DFM Shari’a Index incorporates 40 listed companies, including30 Emirati companies and 10 dually-listed.
“We believe that the DFM Shari’a Index is a strong push to our efforts to further attract Islamic investments, considering the growing demand from investors across the world for ethical investments that focus on companies adhering to the Islamic Shari’a,” Kazim said.
