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The Dow Jones Islamic Market Index (DJIM), is a stock market index created for investors seeking investments using Islamic finance in compliance with Muslim Sharia law.. The DJIM indices use a screening process to identify companies that are compliant with Shariah law.
Sharia practices ban riba (earning interest) and involvement in haram. It also forbids gambling and excessive risk (bayu al-gharar). [1] [2] This, however has not stopped some in Islamic finance industry from using some of these instruments and activities, but their permissibility is a subject of "heated debate" within the religion. [3]
The index is part of the family of S&P Shariah indices with the S&P 500 Shariah, S&P Europe 350 Shariah, and S&P Pan Asia Shariah among others. The S&P BSE 500 consists of 500 of the largest, most liquid Indian stocks trading at the Bombay Stock Exchange (BSE). The index represents nearly 93% of the total market capitalization on the exchange ...
Shariah Compliance - The fund adheres to the criteria developed by the Shariah Supervisory Board composed of internationally renowned scholars. Based on these criteria, the following businesses are generally excluded: alcohol, tobacco, pork products, conventional financial services (banking, insurance , etc.), weapons, defense, and entertainment.
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The secondary market—whilst developing—remains a niche segment with virtually all of the trading done at the institution level. The size of the secondary market remains unknown, though LMC Bahrain states they traded $55.5 million of Sukuk in 2007. [32] As of July 2014 sukuk.com listed fifteen sukuk on the secondary market for Gulf Sukuk. [33]
Additionally, these pages allow you to see returns over time, spot market movers in more than 100 industries, discover ways to invest through ETFs or mutual funds, and join the Yahoo Finance ...
She has an Overweight rating on the stock ahead of its earnings report scheduled for Feb. 18. Seana Smith is an anchor at Yahoo Finance. Follow Smith on X @SeanaNSmith .