The Bombay Stock Exchange (BSE) and Taqwaa Advisory and Shariah Investment Solutions (TASIS) will launch the BSE TASIS SHARIAH 50 Index on December 27. The index will be the first shariah index created in India, utilising the strict guidelines and local expertise of a domestic Shariah advisory board. The index comprises the 50 largest and most liquid Shariah-compliant stocks within the BSE 500.
Madhu Kannan, managing director and chief executive officer, BSE, said, ”The index will give Islamic and other socially responsible investors another means to access the Indian market and help attract pools of capital from the Gulf, Europe, and Southeast Asia.”
