As widely reported on the web and here on SFW yesterday, the UK has decided to go ahead and issue a sovereign sukuk. In other words, the United Kingdom will issue a government security that complies with a foreign law. The UK is the first Western nation to do so and British leaders say they […]
The Muscat Securities Market has launched a ‘Sharia Index’ (MSMSI) aiming at measuring the performance of Shariah-Compliant companies that pass AAOIFI compliance with the Shariah investment principles. With this launch, more individuals and corporates are expected to make use of the Shariah financial offerings in the country. SFW readers may recall that AAOIFI’s Shariah advisory […]
Standard & Poor’s, one of the most prominent names in the Western financial world has formed an alliance with the world’s most prominent Wahhabi Islamic supremicist organization to establish a new Shariah-compliant investment index. The new S&P COMCEC 50 Sharia Index has been established in partnership with the Organization of Islamic Cooperation (OIC), an organization […]
The Weekly Standard has published an article that was linked on Drudge today about German bank WestLB rolling out its Islamic Strategy Index Certificate. The value of the certificate is based on the value of the WestLB Islamic Deutschland Index, consisting of shares of ten German firms “whose business activities are consistent with the ethical rules of […]
Thomson Reuters has partnered with IdealRatings to provide a new Sharia-compliant index for Islamic financial investment. When you see an article published by the Reuters news agency covering Shariah finance, keep in mind that Reuters profits from the Shariah-Compliant Finance business… http://www.waterstechnology.com/buy-side-technology/news/2083893/thomson-reuters-idealratings-team-islamic-finance-index?
Sharia Islamic index added to Istanbul Stock Exchange
Hat tip to Andrew for this report… The Istanbul Stock Exchange (ISE) launched a participation index earlier this month to highlight and track 30 Sharia-compliant companies in an effort to further develop the Islamic finance sector. Some view the Islamic index with apprehension, others as an opportunity. Sharia Islamic Index is the first such index […]
Nasdaq launches two Shariah indexes
Nasdaq has created two sharia-compliant indexes, based on the Nasdaq 100 Index and the OMX Stockholm Benchmark Index. The indexes are weighted by market capitalisation and track the securities in the underlying benchmark indexes, and meet sharia requirements as specified by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). Shariah Finance Watch readers […]
The world’s first Sharia compliant portfolio based on the Fundamental Index methodology has been developed for the SEDCO Group based in Saudi Arabia by Swedish based investment manager IPM Informed Portfolio Management (IPM). http://www.bi-me.com/main.php?id=45934&t=1&c=35&cg=4&mset=1011
Dubai Financial Market set to create Islamic benchmark
The Dubai Financial Market (DFM) is planning to launch an Islamic index in the near future. While the purpose of this index is certainly a nefarious one, the promotion of Shariah Finance, it may also serve a helpful purpose. If the list of Shariah-compliant companies who make up the index are published (and they might […]
From time to time, readers will email us asking for a list of Shariah-Compliant companies. A complete version of such a list is extremely difficult to come by. Some of the better sources for such a listing would be the annual and semi-annual reports of the various Shariah-Compliant investment funds. These reports usually include portfolio […]
Shariah Finance industry holds award dinner
Though it is not the main theme of the article linked below, a major awards dinner was held in Kuala Lumpur, Malaysia on Tuesday night and we thought the listing of recipients was interesting in that it provides insight into the major players working to promote Shariah through its financial arm. It is always also […]
http://www.menafn.com/qn_news_story_s.asp?StoryId=1093275949
Dow Jones Indexes is set to launch four new indexes for the Middle East and North Africa region, giving investors access to both conventional and Shariah compliant indexes. Note that this index will focus on Saudi Arabia and the standards will be aligned with Wahhabism, the official state religion of Saudi Arabia–and Al Qaeda… http://www.themedialine.org/news/news_detail.asp?NewsID=26203
The Dow Jones Islamic Index, a product which has already caused embarrassment for Dow Jones when it was fully disclosed that the hateful Jihadist Mufti Taqi Usmani sat atop its Shariah advisory board last year, is now set to expand by 11 countries to 68 total nations. Nothing is more illustrative of the march of […]
Shariah Index for Thai stock market
Earlier this week we reported on the new Shariah-compliant Exchange Traded Fund (ETF) introduced here in the US. Now we are greeted with the news that a Shariah index has been established in the Thai stock market. Once again, we have an example of a news report which reads an awful lot like a marketing […]
We wonder if anyone at Dow Jones even knows what Shariah is… “Dow Jones has launched a new Islamic index, which has been simultaneously licensed to an exchange-traded fund (ETF) provider in the US. The Dow Jones Islamic Market International Titans 100 Index will track 100 companies outside the US which have passed sharia screening […]
S&P goes dhimmi in Canada
Standard & Poor’s is launching an index of large Canadian stocks with criteria defined by Islamic law… http://www.theglobeandmail.com/globe-investor/sp-starts-canadian-stock-index-defined-by-islamic-law/article1155197/
FTSE and the Stock Exchange of Thailand have added a Shariah index to the exchange’s benchmarks. This is most unfortunate and is illustrative of the spread of Shariah worldwide. This is especially disconcerting in the case of Thailand, which has been racked by a bloody Islamist insurgency over the past several years. One cannot help […]
Shariah-Compliant Finance as a Safe Haven: Myth and Reality
Promoters of Shariah-Compliant Finance routinely violate the trust of investors when they proclaim that investing according to shariah principles has provided a safe haven from the recent and current financial crisis. Could any other sector get away with such lies? The lies emanate from the entire range of shariah practitioners, from individual investors themselves all […]
The Washington Times weighs in on Shariah-Compliant Finance
The Washington Times has a good piece on Shariah-Compliant Finance this morning, authored by Simon Roughneen. Roughneen did a good job of covering the issues involved, though I wish he had mentioned the system of zakat by name, because that is one of the aspects that makes Shariah-Compliant Finance so worrisome. When slimey enemies of […]
Ace financial journalist Patrick Winn is shilling for Shariah. This time the victim is not the West, but the Orient, namely Thailand, which, by the way, has been enduring a nasty Jihadist insurgency for years now. Here’s the cutesy headline from Winn’s propaganda piece: Problems with your portfolio? Maybe you need help from a higher […]
Dow Jones Islamic Market Index marks 10th Anniversary
The Dow-Jones Islamic Market Index is 10 years old. Excuse us if we decline to join in the celebration of one of America’s financial icons helping our enemy’s threat doctrine infiltrate our financial system. Dow Jones’ due diligence with regard to that entity has been nothing short of LOUSY. Case in point: they brought on […]
Unfortunately we overlooked an excellent article two weeks ago. Alyssa Lappen is one of the most knowledgeable writers on Shariah and Shariah-Compliant Finance. She wrote an article for FrontPageMag.com. In this article she points out that some sukuk–or Islamic Bonds–are in fact structured in such as way that they simply cannot be classified as anything […]
Dubai-based Amara eyes Asia, Mideast investments Sat Oct 11, 2008 9:41pm IST DUBAI (Reuters) – Dubai-based Amara Holding said on Saturday it is looking for investment opportunities in China, India and the Middle East as growing demand for Islamic finance in those markets mitigates a global economic downturn. The sharia-compliant investment firm, which is […]
Arab Stock Markets Tumble for 4th Daywww.ribh.wordpress.com Arab stock markets tumbled for the fourth day running on Wednesday amid growing fears that policymakers may be powerless to stop the worst financial shock since the Great Depression. The plunge slashed many more billions from the combined value of regional markets to add to enormous losses […]
US crisis to hit, not crush, sharia market: Affin * US financial meltdown to hit sharia finance market * Upbeat on Malaysian Islamic property and bond markets * Working on about US$289 million of property projects Sharia banks have so far been relatively unscathed by the turmoil on Wall Street, which industry experts attribute […]
Top Islamic Finance News Sponsored by QIB Helps Arrange $250M Financing For Power Firm An Islamic Financing arrangement worth $250m (QR910m) for part of the Ras Laffan C independent power and water project to be undertaken by Ras Girtas Power Company reached financial close on September 2, Qatar Islamic Bank (QIB) announced. The Peninsula – […]
(Greedy, Greedy, Greedy $$$$$$) http://misc.mortgagebrokers.ie/images/blogimages/2008/march/iran_oil_bourse_2008.jpg A state of panic prevailed among traders today after all bourses declined sharply, except Muscat which rebounded by 2% after 9% loses last week. The rise in Muscat came after a recommendation by the minister of trade during a meeting with pension and investments funds in which he […]
By Haris Anwar http://www.ruf.rice.edu/~elgamal/files/emirates.jpg Sept. 3 (Bloomberg) — The fastest-growing part of the global bond market is faltering, and it has nothing to do with subprime mortgages or the credit crunch. Sales of Shariah-compliant debt, which financed Dubai’s Palm development, the world’s largest man-made island and where David Beckham and Donald Trump have homes, […]
Staff Reporter http://www.swissinfo.ch/xobix_media/images/sri/2006/sriimg20060508_6695354_0.jpg 2 September 2008 DUBAI — Some investors in the UAE markets having total portfolio of Dh210.7 million plan to sell their shares in a number of companies, such as Emaar Properties and National Bank of Abu Dhabi (NBAD), and buy into firms complying with the Muslim Shariah law. Al Mal, […]
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