Fundamentals, universe creation and appraisal of major shari’ah- compliant stocks screening methodologies

This study will examine and review the existing Shariah-compliant stock screening methodologies and will propose a universal standard Shari’ah screening methodology. Apart from understanding the philosophy, definition, components and functions of Islamic stocks, it is also important to understan...

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Main Authors:	Saiti, Buerhan, Ahmad, Khaliq
Format:	Article
Language:	English English
Published:	IIUM Press, International Islamic University Malaysia 2017
Subjects:	HG4501 Stocks, investment, speculation
Online Access:	http://irep.iium.edu.my/59708/ http://irep.iium.edu.my/59708/ http://irep.iium.edu.my/59708/1/59708_Fundamentals%2C%20universe%20creation%20and%20appraisal.pdf http://irep.iium.edu.my/59708/2/59708_Fundamentals%2C%20universe%20creation%20and%20appraisal_SCOPUS.pdf

id	iium-59708
recordtype	eprints
spelling	iium-597082018-04-18T07:10:51Z http://irep.iium.edu.my/59708/ Fundamentals, universe creation and appraisal of major shari’ah- compliant stocks screening methodologies Saiti, Buerhan Ahmad, Khaliq HG4501 Stocks, investment, speculation This study will examine and review the existing Shariah-compliant stock screening methodologies and will propose a universal standard Shari’ah screening methodology. Apart from understanding the philosophy, definition, components and functions of Islamic stocks, it is also important to understand the conditions and rules of the Islamic stock market, as well as the universe creation and stock selection, screening process, tolerable level of non-permissible elements, change of Shari’ah-compliant status, purification process, and periodic and ongoing review of Shari’ah-compliant stocks. In this paper, we demonstrate the fundamentals and processes of Shari’ah-compliant stocks and show how world major stock index providers create the universes for Shari’ah-compliant stocks. Finally, we examine the similarities and differences of Shari’ah-compliant stock screening in terms of methodologies. Despite all the differences and inconsistencies, it is recommended that the relevant authorities, or index providers, should set a universal standard with clear guidelines and understanding to be applicable to all. Eventually, this universal standard will accelerate the commercial and economic cooperation among Muslim communities around the world IIUM Press, International Islamic University Malaysia 2017 Article PeerReviewed application/pdf en http://irep.iium.edu.my/59708/1/59708_Fundamentals%2C%20universe%20creation%20and%20appraisal.pdf application/pdf en http://irep.iium.edu.my/59708/2/59708_Fundamentals%2C%20universe%20creation%20and%20appraisal_SCOPUS.pdf Saiti, Buerhan and Ahmad, Khaliq (2017) Fundamentals, universe creation and appraisal of major shari’ah- compliant stocks screening methodologies. Al-Shajarah, 2017 (Special Issue: Islamic Banking and Finance). pp. 105-138. ISSN 1394-6870 http://journals.iium.edu.my/shajarah/index.php/shaj/article/view/612
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HG4501 Stocks, investment, speculation
spellingShingle	HG4501 Stocks, investment, speculation Saiti, Buerhan Ahmad, Khaliq Fundamentals, universe creation and appraisal of major shari’ah- compliant stocks screening methodologies
description	This study will examine and review the existing Shariah-compliant stock screening methodologies and will propose a universal standard Shari’ah screening methodology. Apart from understanding the philosophy, definition, components and functions of Islamic stocks, it is also important to understand the conditions and rules of the Islamic stock market, as well as the universe creation and stock selection, screening process, tolerable level of non-permissible elements, change of Shari’ah-compliant status, purification process, and periodic and ongoing review of Shari’ah-compliant stocks. In this paper, we demonstrate the fundamentals and processes of Shari’ah-compliant stocks and show how world major stock index providers create the universes for Shari’ah-compliant stocks. Finally, we examine the similarities and differences of Shari’ah-compliant stock screening in terms of methodologies. Despite all the differences and inconsistencies, it is recommended that the relevant authorities, or index providers, should set a universal standard with clear guidelines and understanding to be applicable to all. Eventually, this universal standard will accelerate the commercial and economic cooperation among Muslim communities around the world
format	Article
author	Saiti, Buerhan Ahmad, Khaliq
author_facet	Saiti, Buerhan Ahmad, Khaliq
author_sort	Saiti, Buerhan
title	Fundamentals, universe creation and appraisal of major shari’ah- compliant stocks screening methodologies
title_short	Fundamentals, universe creation and appraisal of major shari’ah- compliant stocks screening methodologies
title_full	Fundamentals, universe creation and appraisal of major shari’ah- compliant stocks screening methodologies
title_fullStr	Fundamentals, universe creation and appraisal of major shari’ah- compliant stocks screening methodologies
title_full_unstemmed	Fundamentals, universe creation and appraisal of major shari’ah- compliant stocks screening methodologies
title_sort	fundamentals, universe creation and appraisal of major shari’ah- compliant stocks screening methodologies
publisher	IIUM Press, International Islamic University Malaysia
publishDate	2017
url	http://irep.iium.edu.my/59708/ http://irep.iium.edu.my/59708/ http://irep.iium.edu.my/59708/1/59708_Fundamentals%2C%20universe%20creation%20and%20appraisal.pdf http://irep.iium.edu.my/59708/2/59708_Fundamentals%2C%20universe%20creation%20and%20appraisal_SCOPUS.pdf
first_indexed	2023-09-18T21:24:36Z
last_indexed	2023-09-18T21:24:36Z
_version_	1777412107193548800

Fundamentals, universe creation and appraisal of major shari’ah- compliant stocks screening methodologies

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