Consortium to develop Shariah indexes
Group aims to satisfy appetite for Islamic law-compliant products
Singapore Exchange (SGX), FTSE and Shariah research firm Yasaar Research are to jointly develop Shariah-compliant indexes as part of the FTSE SGX Shariah Index series.
The first index, FTSE SGX Asia Shariah 100, is due for launch in February. It will will comprise a basket of 100 blue-chip stocks from Japan, Hong Kong, Taiwan, Korea and Singapore, says an SGX spokesperson. Yassar Research will use its proprietary screening methodology for Shariah-compliant stocks, and the indexes will be free
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