The Philippine Stock Exchange has updated its quarterly list of Shari'ah-compliant securities for the period of January to June 2015. The list is released by the 5th trading day of the month after each quarter.
Third party IdealRatings screens listed companies in accordance with shari'ah compliance as stipulated by the Accounting and Auditing Organization Institutions. The companies must meet specific criteria, such as ensuring that the nature of the company's primary business does not involve conventional interest-based lending, financial institutions, insurance, derivatives, pork, alcohol, tobacco, arms and weapons, embryonic hotels, gambling, casinos, music, cinema and adult entertainment. If revenue is derived by the company from such prohibited businesses, it must not exceed 5% of its gross revenues. Other regulations govern interest-bearing debt, interest-bearing deposits and accounts receivables.
A total of 53 companies were in the list, including Globe Telecom, Jollibee Foods and Pepsi-Cola Products Philippines, Philippine Long Distance Telephone Company, and Robinsons Land.
Interested?
View the full list
Third party IdealRatings screens listed companies in accordance with shari'ah compliance as stipulated by the Accounting and Auditing Organization Institutions. The companies must meet specific criteria, such as ensuring that the nature of the company's primary business does not involve conventional interest-based lending, financial institutions, insurance, derivatives, pork, alcohol, tobacco, arms and weapons, embryonic hotels, gambling, casinos, music, cinema and adult entertainment. If revenue is derived by the company from such prohibited businesses, it must not exceed 5% of its gross revenues. Other regulations govern interest-bearing debt, interest-bearing deposits and accounts receivables.
A total of 53 companies were in the list, including Globe Telecom, Jollibee Foods and Pepsi-Cola Products Philippines, Philippine Long Distance Telephone Company, and Robinsons Land.
Interested?
View the full list
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