MUSCAT: Muscat Securities Market (MSM) said its new sample of Sharia Compatible Index will be used with effect from May 1. The circular issued by MSM Operation Department stated that the MSM sample index contains 15 joint stock companies listed on the MSM that are compatible with requirements of Sharia regulations. The new sample contains the following companies: Ooredoo, Bank Nizwa, Al Madinah Takaful, Raysut Cement, Al Anwar Ceramic Tiles, Alizz Islamic Bank, Al Jazeera Service, Oman Cement, Oman Cables Industry, Al Maha Ceramic, Shell Oman Marketing, Oman Flour Mills, Takaful Oman Insurance and A’Saffa Foods. It is worth mentioning that the Sharia index sample is tested in market and financial performance after completion of the Sharia compliance examination. The market performance assessment test is based on three main criteria namely liquidity, market value and return on equity, which reflect the company’s financial performance. — ONA
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