Bursa Malaysia Berhad and global index provider FTSE Group yesterday launched the FTSE Bursa Malaysia Hijrah Shariah Index, a tradable Shariah-compliant index covering the Malaysian equity market.
The new index is expected to attract a pool of global investors and can be structured to be used for Shariah-compliant investment products such as Exchange Traded Funds (ETFs).
“With the size of Islamic equity funds estimated at more than $5bn and more than 250 global Islamic financial institutions with estimated combined assets in excess of $230bn, Bursa Malaysia is positioning itself as a destination for the global Islamic investment dollars with the launch of this new tradable index,” a spokesperson said in a statement.