Tag Archives: islamic finance
S&P DJI’s Global Islamic Equity Benchmarks Rose 9% in the First Quarter, Extending Outperformance against Conventional Benchmarks
Global equities had a strong start to the year as economic resilience and diminishing recession fears boosted risky assets overall. The S&P Global BMI surged 7.8% in the first quarter, led by developed markets; notably, the S&P 500® finished the quarter up 10.6%, at a new record high. Shariah-compliant global benchmarks beat their conventional counterparts,…
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S&P DJI’s Global Islamic Equity Benchmarks Surged Nearly 12% in the Final Quarter, Outperforming Conventional Benchmarks in 2023
Global equities witnessed a strong Q4 2023 as slowing inflation and the potential for lower interest rates improved market sentiment drastically. The S&P Global BMI rallied 11.4% for the quarter, finishing the year with an impressive 21.9% return. Middle East and North Africa (MENA) equities rose 6.4% in Q4, as measured by the S&P Pan…
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S&P Dow Jones Indices Quarterly Islamic Market Review
Most S&P and Dow Jones Islamic indices have outperformed conventional benchmarks through the first half of 2018 driven by underweight to financials. Most S&P and Dow Jones Shariah compliant benchmarks outperformed their conventional counterparts through the first half of 2018 as financials – which are largely absent from Islamic indices – lagged the market by…
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Most S&P and Dow Jones Islamic Indices Outperform Conventional Benchmarks in 2017 Driven by Strength in the Technology Sector
Most S&P and Dow Jones Shariah-compliant benchmarks outperformed their conventional counterparts for the year as information technology companies—which tend to be overweight in Islamic Indices—gained a whopping 39.4% beating the overall market by a wide margin, and financials—which are underrepresented in Islamic indices—experienced some weakness. This marked a reversal from 2016 where a surge in…
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Asian Fixed Income: Rising Momentum of Islamic Finance in China
In the Islamic Finance News Report “China- the time is now”, it highlighted a few initiatives that demonstrated the rising momentum of Islamic finance in China, see examples below, Chinese brokerage Southwest Securities forged a partnership with Qatar International Islamic Bank to pave the way for Islamic finance transactions in the country. The Qatari bank…
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Sukuk – Looking Behind the Numbers
The growing popularity of sukuk is reflected in the recent strong index performance.The Dow Jones Sukuk Index delivered a total return of 7.08% year-on-year (Y-o-Y) and 5.26% year-to-date (YTD), as of August 18, 2014. The index’s yield-to-maturity also tightened by 51bps YTD to 2.55%. Noticeably, the yield of the S&P MENA Sukuk Index dropped 55bps…
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A Glance at the Liquidity of the Sukuk Market
Despite the challenging global environment and the shrinkage in sukuk issuance in 2013, the liquidity of the sukuk market, as tracked by the Dow Jones Sukuk Index, showed a slight improvement in the same period. The Dow Jones Sukuk Index is designed as an independent benchmark to measure the performance of the U.S.-dollar-denominated, investment-grade sukuk…
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Sukuk – Let’s Do the Profit Sharing!
It all started with the Quran, the religious book of Islam, which guides all aspects of Muslim’s life. It is one of the fundamental sources of the Islamic (Shariah) law. The Shariah law has strict rules on finance; it forbids both interest “Riba” and uncertainty “Ghara”. It also prohibits a number of practices, such as…
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