Sharia Index Forum reviews economic prospects of investment compatible with Islamic Sharia

Muscat: The “Sharia Index” forum, organized by the Muscat Stock Exchange in cooperation with Alizz Islamic Bank today at the Oman Convention and Exhibition Centre, discussed the economic prospects of the index and its role in promoting investment compatible with Islamic Sharia and attracting local and foreign investments.

The opening of the forum was sponsored by His Excellency Dr. Saeed bin Mohammed Al-Saqri, Minister of Economy.

Haitham bin Salem Al Salmi, CEO of the Muscat Stock Exchange, said that this forum reflects the stock exchange’s interest in opening channels of communication with joint stock companies in light of the implementation of the basic axes in the stock exchange’s strategic plan, strengthening its role as a regional center for Islamic investment and stimulating sustainable economic development, out of belief in the importance of strengthening the culture of Islamic investment and providing compatible investment products. With the provisions of Islamic Sharia, it meets the needs of investors.

He explained that the forum focused on the importance of aspects of the Sharia index for representatives of public joint-stock companies listed on the stock exchange. This expands the investor base for companies and its role in diversifying investment products and enhancing the attractiveness of the Muscat Stock Exchange to investors from inside and outside the Sultanate of Oman by reviewing the stages of development that the index has gone through and the services associated with it that serve companies and investors.

He added that the Sharia index of the Muscat Stock Exchange is an important investment tool for investors seeking to invest in companies that comply with the provisions of Islamic Sharia. This helps in developing the savings and investments of those seeking legal compliance and creating a source of stock market liquidity through individual or institutional investment.

For his part, Ali bin Saif Al-Maani, CEO of Alizz Islamic Bank, said that the forum focused on the roles of the Sharia index and its contribution to money investment operations and educating customers about company stocks, stressing that the bank seeks to invest in sustainable initiatives, support government projects, quality deals, community initiatives, and pay attention to cognitive and educational aspects encouraging banking innovation.

The forum discussed many topics, including a working paper on the Sharia dimensions of corporate stock trading, a paper on Islamic investment funds and their impact on stock exchanges and financial institutions, and another working paper on Alizz Islamic Bank’s Sharia-compliant financial products.

The forum witnessed a discussion session that focused on the field of Islamic finance and its impact on the economy, with the participation of experts and economic officials. It reviewed the roles of Sharia supervisory bodies in structuring monetary investment tools, and the importance of developing AAOIFI standards to keep pace with new developments in the financial market.

The session also discussed the role of investment funds and their contributions to development according to the Sharia perspective, addressing the flexibility of Islamic Sharia and its impact on economic development, ways to direct charitable funds towards investment and development, and the most prominent challenges facing efforts aimed at achieving compliance with Sharia and legal requirements.

more recommended stories

Terms of Use:

  • This website Arabian Daily is an individual’s property, not used for any commercial or sales purposes. What you see here are one’s random thoughts in action. I, by no means, endorse any product or party through this, unless stated explicitly.
  • All work you will find here is copyrighted unless stated otherwise. No part of this work can be reproduced in any way with the exception of a) if you share our work, it should link back to this website; b) if you quote any part of our work, it should be properly credited to us with a link to this website.
  • All images used on this website have been taken from open source image websites on the Internet. If any of them are copyrighted to you and you want us to take them down or add credits, please feel free to contact us here, or by using the contact form on this page.
  • The views expressed on Arabian Daily are solely ours. They do not represent any party or any particular school of thought. This website does not promote racism in any form.
  • Privacy Policy:
    This website will respect the readers’ and the writer’s privacy. We do not sell any of their personal or contact information to another company. We do not put your information on spam lists. Also, and more importantly, we are not responsible for the privacy practices of any of our advertisers or website commenters.
  • Reserve Rights: We reserve the right to change the focus on this website, to shut it down, sell it or to change the terms of use at our own discretion.