Please boost your Plan to download papers
Assignment example - Shariah Compliant Companies in S&P/TSX 60 Shariah Index
Finance & Accounting
Pages 3 (753 words)
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…
Extract of sample
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. ...
Not exactly what