MSM approves 35 Sharia-compliant companies

MUSCAT: Muscat Securities Market (MSM) on Sunday adopted a list of Sharia-compliant companies for the second quarter of 2017.
The Circular issued by the Operations Department of Muscat Securities Market indicated that the list of companies included 35 public shareholding companies whose business and financial behaviour conformed to the requirements of Islamic Sharia according to the Sharia rules approved by the Islamic Financial Accounting and Auditing Organization.
The list of Sharia-compliant companies is reviewed every three months by adding standards-compliant companies and eliminating those that lost their eligibility. The Sharia index, which includes the top 15 Sharia-compliant companies for four consecutive quarters of a full fiscal year, will not be affected by this disclosure. — ONA