S&P / OIC COMCEC 50 Shariah Index (Index) was launched through joint work of OIC Exchanges Forum (Forum) and S&P. The Index, including 50 shares from 19 OIC countries, has been launched as of June 15, 2012 to facilitate increased awareness about Organization of Islamic Cooperation (OIC) capital markets and foster cooperation between OIC exchanges.
The Index fills an important gap. It eliminates an important deficiency in Islamic index market and serves as a successfull tool to increase awareness about the OIC capital markets. Although there are numerous Islamic indexes in the world, none focus exclusively on OIC companies. This paradox and the growing demand for Islamic finance-oriented securities have been motivating factors for the launch of the Index.
The Index is intended to serve the following purposes:
- Increasing awareness about OIC markets
- Enhancing collaboration among OIC exchanges
- Providing a benchmark for OIC market performance
- Creating alternative financial instruments for OIC markets
S&P/OIC COMCEC 50 Shariah
|Index Name||Index Code||Date Of Index||Index Value||Daily Return|
|Top 10 Constituents by Index Weights|
|1||Emirates Telecommunications Group||6||PT Telkom Indonesia Tbk|
|2||Kuwait Finance House||7||Industries Qatar|
|3||Top Glove Corp Bhd||8||Saudi Arabian Oil Company (Saudi Aramco)|
|4||SAUDI BASIC INDUSTRIES CORP||9||Saudi Telecom|
|5||Al Rajhi Banking & Investment Corp.||10||Hartalega Holdings Bhd|