Muscat: MSM, or Muscat Securities Market announced on Sunday the results of the annual review of the Sharia Index Sample.
The sample included 15 joint stock companies listed with Muscat Securities Market (MSM) whose activities are consistent with the requirements of the Sharia based on the standards of the Accounting and Auditing Organisation for Islamic Financial Institutions(AAOIFI).
The Sharia Index Sample for 2018 included Ooredoo, Al Madina Takaful, Oman Fisheries Co. SAOG, Bank Nizwa, Oman Cement Co., Oman Beverages Co., Raysut Cement Co., Oman Flour Mills, Alizz Islamic Bank, Al Anwar Ceramic, Oman Cables Industry, Al Jazeera Services Co., Salalah Ports Services and Al Maha Ceramic.
MSM will apply the new sample of the Sharia Index from Sunday 20 May.
The sample of the Sharia Index is subject to the market activity and financial performance test after examining the consistency with the Sharia.
The test depends on three main criteria which are liquidity, market value and earning per share.