Saudi Arabia's Tadawul launches TASI Islamic Index
Now Reading
Saudi Arabia’s Tadawul launches TASI Islamic Index

Saudi Arabia’s Tadawul launches TASI Islamic Index

The index will track the performance of companies listed as Shariah-compliant on the Saudi stock exchange

Avatar
ASI index laincehd by Tadawul GettyImages-1057624978-e1636003123118

Saudi stock exchange Tadawul has launched its first Shariah-compliant index, the TASI Islamic Index.

The index will track the performance of companies listed as Shariah-compliant on the Saudi exchange, under the supervision of the Shariah Advisory Committee, according to Saudi Arabia’s official news agency SPA.

It will act as a tool for investors and wider market participants to guide and inform decisions when looking into Shariah-compliant investments, while also allowing asset managers to benchmark the performance of their Shariah-compliant portfolios.

Additionally, the index will serve as a basis for financial products, including derivatives and exchange-traded funds.

In collaboration with the Saudi exchange, the Shariah Advisory Committee will work to maintain high standards of governance, while ensuring that index constituents abide by unified Shariah-compliant principles, based on clear and transparent criteria. They will also undertake the responsibility of overseeing and approving the list of companies listed as Shariah-compliant on a periodic basis.

The announcement aligns with the country’s vision to establish a strong foundation for economic prosperity, with Islamic principles and values as a driving force.

You might also like

© 2021 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top