01 Apr 2010
(MENAFN) The Secretary General of Fatwa and Sharia supervision board at the Dubai Financial Market (DFM) said that the market is planning to launch an Islamic index in the near future, Gulf News reported.
The new index will create more flexibility in the financial market by giving investors options to choose between Islamic or conventional shares. The index will be set up based the Sharia compliance of companies.
He indicated that the DFM has done a lot of research on most of the international benchmarks to come up with a new market index that lists stocks adhering to Sharia.
The official added that setting up an Islamic index on the DFM will create a dynamic mechanism for raising capital.
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