Dow Jones Indexes, a leading global index provider, today announced that it has been named “Best Index Provider Shari’ah compliant Indexes” by Dubai-based Islamic Business & Finance magazine.
The Islamic Business & Finance awards are designed to inspire and reward excellence in Islamic business and finance globally.
"2009 marks the tenth anniversary of the Dow Jones Islamic Market Indexes and we proudly look back on a remarkable decade of leading-edge index innovation and excellence. Market participants globally have chosen our superior and unique Islamic indexes to be the standard for Shari’ah compliant indexing. We are honored to conclude this commemorative year with this prestigious award. We remain committed to provide meaningful, new Islamic indexes in the years to come,” said Michael A. Petronella, president, Dow Jones Indexes.
Award winners are based on votes of readers of Islamic Business & Finance via its website www.cpifinancial.net. The published short list of nominees is initially created by an independent board of advisors based on achievements over the last year of business.
The Dow Jones Islamic Market Indexes were introduced in 1999 as the first indexes intended to measure the global universe of investable equities that pass screens for Shari’ah compliance. With more than 100 indexes, the series is the most comprehensive family of Islamic market measures and includes regional, country, and industry indexes, all of which are subsets of the Dow Jones Islamic Market Index. An independent Shari’ah Supervisory Board counsels Dow Jones Indexes on matters related to the compliance of index-eligible companies.
In the past 6 years, the Dow Jones Islamic Market index series has won industry awards by organizations, research institutions and magazines around the world; amongst them are the International Islamic Finance Forum, the Kuala Lumpur Islamic Finance Forum, the Islamic Center of Southern California, Global Finance magazine, Incisive Media and Islamic Finance News.
There are currently more than 150 licensees with more than US$7 billion in assets benchmarked to the Dow Jones Islamic Market Indexes.
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