DFM Shari'a Index
In order to strengthen the numerous successes of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai's initiative to position Dubai as the capital of Islamic economy globally, and as part of its leading role as the first Shari’a-compliant exchange globally since 2007, the DFM aims to meet the requirements of investors seeking Shari’a-compliant investment opportunities, as well as the accelerating pace of demand for ethical investments by investors in the Islamic world and beyond.
The market has launched its Shari’a Index (DFMSI) as the first-of-its kind among capital markets in the UAE. The Index provides investors with a standard tool to measure the performance of Shari’a-compliant companies. Key Facts:
- The DFM Shari’a Index (DFMSI) was launched on 27th October 2019.
- The base date for market capitalization is 31st December 2009.
- A measuring point of 1000 was used as a starting point for tracking that day.
- Frequency of reviewing the companies that are included in the Index is on a quarterly basis, in conjunction with the announcement of the list of Shari'a-compliant companies prepared according to the DFM Shari’a Standard for Issuing, Acquiring and Trading in Shares, and obtaining the approval from the DFM Fatwa and Shari'a Supervisory Board.