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Shariah-compliant
Securities
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As at 30 May 2008, there were 843 Shariah-compliant securities as determined
by the Shariah Advisory Council (SAC) of the Securities Commission (SC). This represented 85.5% of
the total listed securities or 64.6% of the market capitalisation on Bursa Malaysia as at 30 May
2008. Companies seeking to list can request for a pre-IPO screening by the SAC to determine whether
their securities are Shariah compliant.
Bursa Malaysia on 22 January 2007 added FTSE Bursa Malaysia Emas Shariah Index
and on 21 May 2007 further added FTSE Bursa Malaysia Hijrah Index to its series of FTSE Bursa
Malaysia indices. These new Indices are subjected to the same international indexing features such
as free float and liquidity. Therefore, the investors are now able to have a clearer picture of the
quality of Shariah investments and track them more effectively on Bursa Malaysia. FTSE Bursa
Malaysia Hijrah index comprises companies from FTSE Bursa Malaysia Emas Shariah Index that meet
international screening requirements of Shariah investors.
In an effort to broaden the development of overall Islamic financial services in
Malaysia, Bursa Malaysia released the Best Practices in Islamic Stockbroking Services guidelines in
September 2007. The Best Practices is a set of voluntary guidelines that outline key areas and
recommended best practices in carrying out stockbroking services in accordance with Shariah
principles. The guidelines can be used to assist intermediaries in setting up stockbroking
businesses through either a full-fledge basis or 'window' basis.
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| Shariah-Compliant Securities on Bursa Malaysia |
|
Number of Shariah-compliant securities - May 2008
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843 securities
|
|
% of total listed securities
|
85.5%
|
Market capitalization as at 30 May 2008 |
|
Shariah-compliant
|
RM 627.84bil
|
|
Total market
|
RM 971.28bil
|
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% of Shariah-compliant securities to total market
|
64%
|
| Equity Market Indices |
29 Feb
2008 |
31 Mar
2008 |
%
Change |
|
KL Composite Index (KLCI)
|
1,357.4
|
1,247.52
|
-8.1%
|
|
FBM EMAS Shariah
|
9,937.3
|
8,848.45
|
-10.9%
|
|
FBM Hijrah Shariah Index
|
11,299.5
|
10,053.91
|
-11.0%
|
|
|