From screening to compliance strategies : the case of Islamic stock indices with application on "MASI"

المؤلفون المشاركون

Kafou, Ali
Shakir, Ahmad

المصدر

Islamic Economic Studies

الناشر

البنك الإسلامي للتنمية المعهد الإسلامي للبحوث و التدريب

تاريخ النشر

2017-04-30

دولة النشر

السعودية

عدد الصفحات

30

التخصصات الرئيسية

الاقتصاد و التجارة

الملخص الإنجليزي

The aim of this paper is to study the screening methodologies, as practiced by the mainstream Islamic stock market indices (ISI), through their application on the Moroccan All Shares Index (MASI).

Thus, the possibility of providing the Casablanca stock exchange with its own Sharī‘ah-compliant stock index will be studied.

First, the specific processing to construct ISI will be explained.

Then, the screening is performed based on the methodological rules set by the mainstream ISI.

The use of screens, as recommended by these indices’ Sharī‘ah committees, leads to different decisions about rejection or acceptance of stocks in the constructed index.

This leads, in turn, to a plurality of ISI even when created using the same starting investable universe.

Finally, compliance strategies were presented and applied to the MASI

نوع البيانات

أوراق مؤتمرات

رقم السجل

BIM-776570

• APA
• MLA
• AMA