Islamic benchmarking system launched
Manama, July 4, 2011
Thomson Reuters and IdealRatings have launched the first Islamic benchmarking system to offer research-based Sharia screening with globally accepted Sharia standards.
The Thomson Reuters IdealRatings Islamic Indices aims to offer transparent Islamic guidelines for investors in the UAE, Middle East and around the world.
A $1 trillion industry growing more than 15 per cent annually, Islamic finance investors are seeking evolved screening methodologies and deeper sector coverage to benchmark and create funds and investment vehicles to tap into this increasingly liquid market.
The new family of indices includes compliant companies in more than 60 countries and covers the global equity markets in nine regions including the GCC and Mena region in addition to individual country indices and sectors such as global technology, healthcare and energy.
"The industry is looking towards so-called Islamic Indexing 2.0 and Thomson Reuters is pleased to be working with IdealRatings to lead the market with these first of its kind Islamic indices," said Thomson Reuterglobal Islamic finance head Rushdi Siddiqui.-TradeArabia News Service