FTSE and DIFX to launch sharia-compliant GCC indexes
Index provider FTSE and the Dubai International Financial Exchange (DIFX) have jointly created two sharia-compliant Gulf Cooperation Council (GCC) country equity indexes for domestic, GCC, and international investors.
The benchmark indexes are intended to facilitate the creation of investor products such as tracker funds, index certificates, warrants and exchange-traded funds. The real-time indexes are available from 7th August. The two sharia-compliant indexes are the FTSE DIFX Kuwait 15 Sharia Index which is made up of 15 sharia-compliant stocks in Kuwait and the FTSE DIFX Qatar 10 Sharia Index which is made up of 10 sharia-compliant stocks in Qatar.
In June 2006 FTSE and the DIFX created the first GCC
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