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Dubai exchange launches Islamic index

Published: Updated:

The Dubai Financial Market (DFM) has launched a sharia-compliant index as it looks to attract more Islamic investments, the exchange said in a statement on Monday.

The index will provide investors with a benchmark to measure the performance of sharia-compliant listed securities, the DFM said.

The Index, which consists of 40 listed companies, includes 30 UAE firms and 10 dual-listed companies and the weightage of each is capped at 10 percent, the stock exchange added.

The initiative “is a strong push to our efforts to further attract Islamic investments, considering the growing demand from investors across the world,” DFM Chairman Essa Kazim said.