Egypt to launch Islamic stock index ...News

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Egypt to launch Islamic stock index
The move is aimed at attracting new investment, according to the bourse A new Sharia-compliant index is expected to be launched on the Egyptian Exchange (EGX) within the first half of next year, EGX chairman Ahmed El Sheikh told regional media on Monday. Companies wishing to be included in the index will have to ensure that their activities, as well as their financial and accounting practices, comply with the provisions of Islamic Sharia law, according to El Sheikh. The process will be led by the Sharia Supervision Committee of the Financial Regulation Authority. The EGX is in talks with up to four medium-sized pr

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