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Shariah Screening Process in Islamic Capital Market

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FBM EMAS <strong>Shariah</strong> Index Design<br />

Investable Universe Filter<br />

FBM EMAS<br />

Index<br />

SAC’s<br />

<strong>Shariah</strong><br />

compliant<br />

list<br />

Investable Index<br />

FBM EMAS<br />

<strong>Shariah</strong><br />

Index<br />

� Constituents was subjected to the <strong>in</strong>ternational <strong>in</strong>dex<strong>in</strong>g<br />

features, such as free float and liquidity, <strong>Shariah</strong> screen<strong>in</strong>g by<br />

FTSE and SAC<br />

� Reduced number of constituents compared to the exist<strong>in</strong>g<br />

<strong>Shariah</strong> Index.<br />

� Index constituent review dates are the same as FBM Index<br />

Series i.e. <strong>in</strong> June and December<br />

32

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