Index provider MSCI has launched a set of indices that screen stocks according to their market capitalisation rather than by total assets, which is the traditional method in Islamic finance.
The firm says it has responded to client demand for screening by market capitalisation.
“We are committed to developing relevant tools for Middle East investors,” says Rob Ansari, head of client coverage for MSCI in the Middle East.
There are five indices in the Islamic M-Series range, including indices that track sharia-compliant stocks in Europe, North America and in emerging markets.
Earlier this year, MSCI expanded its coverage of the Gulf markets by launching two standalone Saudi Arabian indices. One launched with 19 constituents and another, a small-cap index, with 39.
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