Bloomberg unveils Islamic finance platform
Kuala Lumpur, February 21, 2011
Bloomberg has launched Islamic Finance Platform (ISLM), a comprehensive solution designed to increase transparency, better connect the community and provide analytical tools to maximise investment performance.
Bloomberg also announced, in cooperation with the Association of Islamic Banking Institutions Malaysia (AIBIM), the launch of a Malaysian Ringgit (MYR) sukuk index to provide a benchmark for MYR sovereign sukuk investments.
“The Islamic marketplace is growing rapidly and there is high demand for a wide range of resources,” Dan Doctoroff, president of Bloomberg L.P, said from Kuala Lumpur.
“Bloomberg's Islamic Finance Platform provides the most complete, customisable and innovative solution available today. ISLM has the broadest set of Islamic finance data, analytics and proprietary news, significantly increasing market transparency. ISLM will give investment professionals the edge they need to make informed decisions and meet the increasing demands of investors and regulators,” added Gerard Francis, Bloomberg's global head of Emerging Markets and Islamic Finance.
The new Bloomberg ISLM platform has extensive resources for investing in fixed income, equities and money markets that comply with Shariah including:
• Sukuk– News coverage, analytics and search tools of more than 1,500 Islamic bond issues globally including fatwa endorsements and structured diagrams of the financial instruments. It also includes credit ratings and searchable data on Islamic loans globally.
• Equities & Funds - Screening of over 35,000 Shariah-compliant stocks by prominent screening agencies. Database of more than 500 Islamic funds with ability to research and monitor debt, commodities, equities and exchange traded funds (ETFs).
• Islamic Community Database - Providing full transparency into more than 250 Shariah scholars with details on which sukuk they have rated, boards they represent and their fatwa endorsements. Also included is a listing of more than 70 Islamic banks and profiles on all prominent Islamic institutions and regulators.
• Regional specific content – Carrying the Malaysia International Islamic Financial Centre (MIFC) initiative's content, developed in collaboration with Bank Negara Malaysia and other MIFC community members; providing insights on Shariah, MIFC business opportunities and key developments; and listing the more than 90 community members for business connections.
The platform is integrated with the Bloomberg Professional service. It supports Bloomberg’s leading Order Management System (OMS) and Asset and Investment Management system (AIM).
The Bloomberg AIBIM Bursa Malaysia Sovereign Shariah Index (BMSSI) provides a benchmark of performance for investors seeking exposure to Shariah-compliant Malaysian Ringgit-denominated Sovereign Issuances.
The BMSSI will set a standard for increased transparency and provide performance measures for Islamic markets.-TradeArabia News Service