The Dhaka Stock Exchange will introduce Shariah index this week in a bid to give investors better views about the share price movement of the Shariah-based companies listed with the bourse.
DSE officials said US-based Standard & Poor’s developed the index.
The banks, non-bank financial institutions,insurance companies, mutual funds and any other companies listed with the stock exchange which conduct their business on the basis of Islamic Shariah will be included in the index, the officials said.
The bourse is testing the index setting its base at 1,000 points, they said.
‘Following the standards set by S&P, 77 companies of different sector have been chosen for the Shariah index,’ DSE assistant general manager Ishtiakh Ahmed Shohag told New Age.
He said, ‘The index is scheduled to be launched on Monday. The DSE will hold a press briefing in this connection on Sunday.’
The DSE on January 28 last year introduced two new indices — DSEX and DS30 — on the basis of free-float method developed by S&P.
The DSE in July last year rebalanced the indices for the first time and the bourse reviewed the indices for the 2nd time on Thursday.
A Bangladesh Securities and Exchange Commission committee in 2010 proposed that the DSE should introduce free-float index to remove the flaws in its calculation process.
-With New Age input
