As required by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) for Islamic investment principles, two new companies were added and four companies were removed from the list for failure to comply with approved criteria.
Muscat Securities Market's shari'ah-compliant index has the following joint stock companies listed as having activities and financial conduct that complied with shari'ah law. The members of this list are reviewed every three months for compliance with the criteria:
Al Saffa Foods
Al Anwar Ceramic Tiles
Al Izz Islamic Bank
Al Jazeera Services
Al Madina Takaful
Al Madina Takaful
Al Maha Ceramics
Bank Nizwa
Construction Materials Industry
Dhofar Beverages and Food Stuff
Al Batinah Development and Investment Holding
Dhofar Refreshments and Foodstuffs
Gulf Mushroom Products
Majan Glass
Muscat Gases
Muscat Gases
Muscat Thread Mills
National Biscuits Company
National Biscuits Company
Oman Cement Company
Oman Chlorine
Oman Chromite
Oman Chromite
Oman Fiber Optic
Oman Flour Mills
Oman Oil Marketing
Oman Refreshments
Oman Telecommunications Company
Oman Textile Holding
Ooredoo
Port Services Corporation
Raysut Cement Company
Shell Oman Marketing
Oman Agricultural Development
Oman Sweets and
Takaful Oman Insurance.
Analysts believe that the Islamic indices will attract new category of investors who prefer to have reliable references that ensure compliance of their investments with shari'ah 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.
Analysts believe that the Islamic indices will attract new category of investors who prefer to have reliable references that ensure compliance of their investments with shari'ah 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.