Muscat Securities Market updates MSM Shariah Index

Muscat Securities Market (MSM) has announced the new reference companies for its MSM Shariah Index as of June 2016. The index identifies investments that comply with the requirements and provisions of Islamic law, contributing to the development and growth of the Islamic capital market sector.

MSMSI sample constituents:

1 A Saffa Foods
2 Al Anwar Ceramic Tiles
3 Al Jazeira Services
4 Al Kamil Power
5 Al Madina Insurance
6 Al Maha Ceramics
7 Bank Nizwa
8 Computer Stationery Industry
9 Dhofar Beverage & Food Stuff
10 Gulf Mushroom Products
11 Gulf Plastic Industries
12 Majan Glass
13 Muscat Gases
14 Muscat Thread Mills
15 National Biscuit Industries
16 Oman Cables Industry
17 Oman Cement
18 Oman Chromite
19 Oman Refreshment
20 Oman Telecommunications
21 Oman Textile Holding
22 Omani Qatari Telecommunications
23 Raysut Cement
24 Salalah Mills
25 Salalah Port Services
26 Shell Oman Marketing
27 Sweets of Oman
28 Takaful Oman Insurance
29 Oman Flour Mills
30 Al Izz Islamic Bank

The members of the MSM sample index must be compatible with the requirements of shari'ah regulations as stipulated by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). MSM revises the sample quarterly adding companies that meet the standards and removing companies that no longer meet the regulations. Oman Textile Holding is new to the index, while Gulf International Chemicals and Oman Oil Marketing have left.

Interested?

View the rules for membership in the MSM Shariah Index

View the full list of companies in the Q1 2016 sample (PDF)

Read the Suroor Asia blog post about previous updates of the MSM sample index