List of Shariah compliant securities by the Shariah Advisory Council of the Securities Commission Malaysia : Senarai Sekuriti Patuh Syariah oleh Majlis Penasihat Syariah Suruhanjaya Sekuriti Malaysia. Documentation. Suruhanjaya Sekuriti Malaysia, Selangor, Malaysia. (2024)
Abstract
The Shariah Advisory Council (SAC) of the Securities Commission Malaysia (SC) has approved an updated list of securities which have been classified as Shariahcompliant securities. The updated list of Shariah-compliant securities takes effect from 31 May 2024 (effective date)1 . 27 securities have been classified as Shariah-compliant securities (Table 1) whilst 14 securities have been classified as Shariah non-compliant securities (Table 2). The breakdown of the Shariah-compliant securities by sector is provided in Table 3. In classifying these securities, the SAC received input and support from the SC. The SC obtained information on the companies through, among others, annual reports and enquiries made to the companies. The SAC, through the SC, will continue to review the Shariah status of securities listed on Bursa Malaysia Securities Bhd (Bursa Malaysia), on an annual basis, based on the latest available annual audited financial statements of the companies. For this list, the SAC reviewed the audited financial statements released between 1 October 2023 and 31 March 2024, as made available on Bursa Malaysia’s website. The SAC adopts a two-tier quantitative approach, which applies the business activity benchmarks and the financial ratio benchmarks, in determining the Shariah status of the listed securities. Hence, the securities will be classified as Shariah-compliant if their business activities and financial ratios are below these benchmarks.
| Item Type: | Monograph (Documentation) |
|---|---|
| Additional Information: | Disclaimer: This document does not constitute a recommendation to buy or sell the listed Shariah-compliant securities by the Securities Commission Malaysia (SC) Shariah Advisory Council (SAC). It is intended solely for your general information. It does not claim to contain all advice or information on the subject matter, nor is it a substitute for legal or investment advice. If in doubt, you are strongly recommended to seek professional advice. While care has been taken in the preparation of this booklet, the SC shall not be liable for any inaccuracy or incompleteness of the information contained in this book. This list of Shariah-compliant securities by the SAC of the SC will be updated and made known to the public by the SC. |
| Keywords: | Shariah compliant securities |
| Taxonomy: | By Niche > Investments > Islamic Law By Niche > Islamic Banking > Banks and Banking > International Law and Legislation By Niche > Islamic Banking > Banks and Banking > Religious Aspects |
| Local Content Hub: | Niche > Islamic Banking |
| Depositing User: | Rizana Mohd Radwan |
| Date Deposited: | 01 Jul 2024 08:54 |
| Last Modified: | 02 Jul 2024 03:40 |
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