Shariah Screening Process in Islamic Capital Market

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Example Investment Cost (2 January) Announcement date (30 May) Disposal price (3 June) RM5.50 RM6.00 RM7.50 Profit kept by investor (RM0.50) Profit to be channeled to charitable bodies (RM1.50) Investment cost = RM5.50/share Closing price on the announcement date = RM6.00/share Disposal Price = RM7.50/share If investor disposes securities on 3 June, the capital gain is RM2 per share. He is only eligible to keep the profit of RM0.50 per share While RM1.50 should be channeled to charitable bodies) 26
Example Investment Cost (2 January) Announcement date (30 May) RM5.00 RM4.00 Hold until the price of the stocks equal to the investment cost Used dividends received to expedite the disposal Price < investment cost
Page 1 and 2: IFSB Seminar on Islamic Capital Mar
Page 3 and 4: Why capital market Equity Bonds Der
Page 5 and 6: Availability of Shariah-compliant s
Page 7 and 8: Shariah-compliant securities broade
Page 9 and 10: Shariah compliance review is perfor
Page 11 and 12: Approach and methodology Importance
Page 13 and 14: Modern business and corporation Mod
Page 15 and 16: SC’s SAC Shariah methodology and
Page 17 and 18: Shariah compliance review criteria
Page 19 and 20: Mixed companies benchmark Muslims a
Page 21 and 22: Specific benchmarks are established
Page 23 and 24: Case study: Hypermart Bhd* Principa
Page 25: Shariah guidance on investment in n
Page 29 and 30: Sample List of Shariah-compliant se
Page 31 and 32: Development & initiative for screen
Page 33 and 34: FBM Hijrah Shariah Index Design (Tr
Page 35 and 36: As a result Islamic capital market
Page 37 and 38: List of Shariah-compliant stocks as
Page 39 and 40: QUESTION?

Shariah Screening Process in Islamic Capital Market

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