Shariah Compliance Index family includes: S&P/TOPIX 150 Shariah S&P Japan 500 Shariah S&P Europe 350 Shariah S&P 500 Shariah S&P Europe 350 Shariah S&P Global Healthcare Shariah S&P/TSX 60 Shariah There are many indices other than the above mentioned indices that follow Shariah Compliances. Canadian Index, S&P/TSX 60 Shariah includes those companies that apply the principles of Shariah to the highest degree and screen out all those companies that are not eligible for including in this index. Companies that have high levels of earnings through interest or possess high amount of debt are also screened out. The proportion of capital structure that is allowed to the companies is that they must have less than 33% of total debt. Some of the companies in S&P/TSX 60 include; Potash Corporations, Barrick Gold Corporation, EnCana Corp, Petro-Canada and Suncor Energy. In subsequent paragraphs, a comprehensive analysis of why these companies are included in Shariah Compliant Index is given. As mentioned earlier, to include a company in Shariah Compliant Index, it must be observed in what products and services is the company dealing in. The above mentioned companies mainly deal in the commodities like gold, natural gas and oil etc. The basic criteria of judging whether the company fulfils all the obligations of being in Shariah Compliance Index or not, it is necessary to measure its amount of interest, amount of debt, products and services in which the company deals in and its credit rating as well. These are the major characteristics of measuring if the company is eligible of being placed in Shariah Compliance Index or not. Accounting Based Screening In order to be included in Shariah compliance companies, the companies must follow the guidelines for following basic ratios: Debt-to-Asset Ratio: Total interest bearing debt over total assets must be less than 33.33%. Debt-to-Asset Ratio = Long-term Debt/ Total Assets Total cash and account receivables balance over total assets should be less than 70%. Receivable Ratio = Accounts Receivable + Cash/ Total Assets Petro Canada The credit rating of Petro Canada is BBB, which means that company has acceptable way of dealing with their debt and has been paying off its debt in a satisfactory manner. The capital structure of the company consists heavily on equity as the company has issued unlimited common stocks and limited number of preferred stocks. 1. Debt-to-Asset Ratio = Long-term Debt/ Total Assets (All amounts are taken in millions) Debt-to-Asset Ratio = 4,746/30,377 Debt-to-Asset Ratio = 0.15 2. Receivable Ratio = Accounts Receivable + Cash/ Total Assets Receivable Ratio = (1,445+2,844)/30,377 Receivable Ratio = 0.14 EnCana Corporation EnCana Corp is also another natural gas exploring company. As per the description of the product, it deals in halal product that is exploration of natural gas. The credit rating of the company is BBB+ which is a good sign that the company pays off its debt in a fairly better period. Amount of interest that the company pays is also low. Because in Shariah Compliance, when it is necessary to borrow low amount of debt than consequentially the cost of borrowing the loan will also be a lower amount. As per the balance sheet of the company for the year of 2009, the company’s total liabilities were also much lower than its equity which showed another
Shariah Compliant Companies in S&P/TSX 60 Shariah Index Growing number of Islamic investors have lead to the increment in the number of companies which apply Shariah compliances. Shariah compliant stocks refer to the stocks of those companies which do not deal in products and services that are considered haram according to Koran…
This research aims to evaluate and present Sustainable Development of the Happy Planet Index (HPI) with paying special attention to the major strength of the HPI. This research paper examines the biological indicators or the biotic indicators and three major categories of the biotic indicators.
Primary key (PK) is the unique identifier through which patients’ data is retrieved. Thus, to each patient who registers with the organization, a unique index or PK is assigned. MPIs and PKs are important because these help in the preparation of reports, decision-making and business planning.
Furthermore, they have an exemplary service history. Over the years G&P has received over 100 service and quality awards. They also hold the Lowe’s Gold Carrier award for consistent on time delivery since 2000. They also hold the on time delivery award for BMW since 1995.
ing the indoor games and swimming pool and other small facilities, in this way the hidden cost would be effective and not the direct overheads, what more they could have done is that after the problem was identified that the cruise would not move any further they should have returned the payments made by the customers previously what they exactly did but in order to attract them and maintaining a long term relationship they could have given a special discount for the next time, in which only the preliminary costs were recovered and the company's name and prestige would not have been endanger, the basic idea is to communicate this special feature to the clients in a way that sounds good, the c
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To date it is the best proxy of body fat percentage in relation to height and weight. Body fat calculations and measures became paramount due to rising cases of obesity in western countries and enabled professionals to identify and address weight
1-3). In this paper the discussion is about the concept of Limited Liability Company, the advantages and disadvantages of this company and also the differences between ordinary and preferences shares.
Limited Liability Company
The following is an investigation into the real reasons why the American society is becoming obese (Watson & Wu, 1996).
Any American can attest to the fact that there is increased food availability all over the country. Anywhere you go people are having snacks or having
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