Dubai Financial Market (DFM) today announced the launch of the Dubai Financial Market (DFM) Islamic Index, a new initiative that strengthens its success as the first Sharia-compliant financial market globally since 2007, as part of its active contribution to the consolidation of Dubai as the capital of the economy. Islamic world.
The new index, the first of its kind among the country's financial markets, provides traders with a standard tool that monitors the performance of Shariah-compliant companies' shares to facilitate their trading decisions.
He added that the index can be monitored through the Dubai Financial Market website, smart phone applications and other data transmission platforms, whether affiliated with the market or licensed data providers. He pointed out that the date of 31 December 2009 was adopted to determine the basic market value of the Islamic index. 1000 points as a start to read that day. Shares of companies included in the Islamic index of Dubai Financial Market are approved in conjunction with the announcement of the list of Shariah-compliant companies approved by the Fatwa and Shari'a Supervisory Board.
He pointed out that the number of companies included in the Islamic index up to 40 companies, including 30 local companies and 10 companies of double listing, pointing out that the maximum weight of one company in the index at 10%.
“This is the first of its kind in the country that will enable investors and international Shariah-compliant investment funds to measure the performance of Shariah-compliant stocks on the DFM compared to conventional and local Islamic indices,” said Issa Kazim, Chairman of the DFM. And global, both in terms of historical performance and real-time performance of those stocks. ”
Dubai - UAE Today
Highlight the basic rules of the new indicator
- Set the reference point of the index at 1000 points.
- Provide historical data for the index as of 31 December 2009.
- The maximum weight of the company in the index is 10%.
- The index is based on the calculation of the market value based on
The last trading price of the security.