FTSE and Bursa Malaysia launch new sharia index
Index provider FTSE and Malaysia’s stock exchange Bursa Malaysia Berhad (Bursa Malaysia) have launched the FTSE Bursa Malaysia EMAS Sharia Index. The index, designed to provide a broad benchmark for sharia-compliant investment for the Malaysian market, will replace the existing sharia index, the Kuala Lumpur Sharia Index (KLSI), in November this year.
“With the new FTSE Bursa Malaysia EMAS Sharia Index, we can now create a tradable sharia index which allows us to introduce Islamic structured products,” says Bursa Malaysia’s chief executive, Dato’ Yusli Mohamed Yusoff.
The index takes the constituents of the FTSE Bursa Malaysia Index which is a composite of the large and mid-cap stocks of the FTSE Bursa Malaysia 100 and the FTSE Bursa Malaysia Small Cap Index. Those stocks that do not meet the Securities Commission’s Sharia Advisory Council’s
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