• Home
• /
• Local business

Dow Jones Expands Shariah-compliant Indexes

DUBAI — Global index provider Dow Jones Indexes has launched an additional set of conventional and Shariah compliant indexes that measure the performance of stocks listed in the Gulf Co-operation Council (GCC), Middle East and North Africa.

The four indexes are the Dow Jones GCC Index, Dow Jones GCC Islamic Market Index, Dow Jones GCC Titans 50 with Saudi and Dow Jones Islamic Market MENA indexes.

The Dow Jones GCC indexes launched on Tuesday include companies from all six member states of the GCC — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United 
Arab Emirates.

The Dow Jones Islamic Market MENA Index includes all GCC countries plus Egypt, Jordan, Morocco 
and Tunisia.

“Dow Jones Indexes is the first and currently only international index provider authorised by Tadawul to use real-time data of the Saudi stock market. Offering these indexes is an important milestone for us and shows yet again Dow Jones Indexes’ leading position in the Middle East,” said Michael A. Petronella, president, Dow Jones Indexes.

Petrolenella said the news indexes give investors access to authorised regional conventional and Shari’ah compliant indexes, including the widely sought after Saudi Arabian 
stock market.

The Dow Jones Islamic Market GCC and the Dow Jones Islamic Market MENA indexes are part of the Dow Jones Islamic Market index series and measure the stock performance of companies that have passed rules-based screens for Shariah compliance. — rocel@khaleejtimes.com