Companies
Muscat bourse reconstitutes Sharia Index

Oman’s Muscat Securities Market has re-constituted its Sharia Index by replacing two companies in the basket with new firms.
The companies that are newly included in the index are Oman Flour Mills and Takaful Oman Insurance, while National Biscuit Industries and Oman Refreshment have been removed from the basket of stocks that constitute the index, according to a circular released by the Muscat Securities Market.
Sharia Index has 15 sample companies and the reconstitution was on the basis of traded volumes, liquidity and financial results of the companies. The newly constituted index will be effective from May 1.
Muscat Securities Market’s Sharia-compliant index is made up of companies that are complied with Sharia Law. The sample companies are reviewed by the bourse every three months to add or remove companies according to their compliance with the criteria.
The MSM Sharia Index is made up of companies comply with the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) requirements for Islamic investment principles. The AAOIFI is an Islamic international, autonomous, not-for-profit corporate body that prepares accounting, auditing, governance, ethics and Sharia standards for Islamic financial institutions and the industry. Islamic index will attract new category of investors who prefer to have reliable references that ensure compliance of their investments to the Sharia rules and regulations. This in turn contributes to the development and growth of the Islamic capital market sector as it provides non-traditional investment tools.
The index now include Oman Telecommunications Company, Ooredoo, Bank Nizwa, Al Madina Insurance, Raysut Cement, Al Anwar Ceramic Tiles, Al Izz Islamic Bank, Oman Cables Industry, Oman Cement, Al Jazeira Services, Al Maha Ceramics, Shell Oman Marketing, Oman Flour Mills, Takaful Oman Insurance and A’saffa Foods.
-
Banking & Finance1 month ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
Bahrain1 month ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
Banking & Finance2 months ago
Central Bank of Oman Issues Regulatory Framework for Digital Banks
-
Banking & Finance4 weeks ago
National Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
Energy1 month ago
Russian Energy Week from October 15-17, 2025 offers alternative formats of cooperation
-
OER Magazines1 month ago
OER, June 25
-
Banking & Finance2 months ago
The Future of the International Financial System to be discussed at SPIEF 2025
-
Retail1 month ago
All services are moving toward personalisation says Tatyana Kim, Founder of Wildberries and Head of RWB
You must be logged in to post a comment Login