Nasdaq has created two sharia-compliant indexes, based on the Nasdaq 100 Index and the OMX Stockholm Benchmark Index.
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The indexes are a response to growing demand for a wider range of Islamic investments by investors and are the first in an intended family of indexes aimed those who want an Islamic investment portfolio, says Nasdaq.
The indexes are weighted by market capitalisation and track the securities in the underlying benchmark indexes, and meet sharia requirements as specified by the Accounting and Auditing Organisation for Islamic Financial Institutions adopted by Nasdaq OMX with the guidance of sharia advisor BMB Islamic UK.
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