The Nasdaq OMX Group has released two Sharia-compliant indices based on the Nasdaq-100 and OMX Stockholm Benchmark index.
The latest indices are the first of a new family designed for investors seeking to develop and maintain an Islamic investment portfolio.
The Nasdaq-100 Sharia and OMX Stockholm Benchmark Sharia indices track the performance of securities constituting the underlying indices, that meet Sharia requirements in line with the Accounting and Auditing Organisation for Islamic Financial Institutions.
The Nasdaq-100 comprises the largest non-financial securities listed on the Nasdaq stock market, based on market capitalisation.
The OMX Stockholm benchmark consists of the 80 to 100 largest and most traded stocks on the Nasdaq OMX Stockholm market, representing all sectors.
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch
To drive progress