S&P Indices announced Friday the launch of the S&P/OIC COMCEC 50 Shariah Index, which is designed to measure the performance of 50 leading Shariah-compliant companies from the member states of the Organization of Islamic Cooperation (OIC). The Index has been designed in partnership with the OIC.
Corporate restructurings were until recently relatively rare in the oil-rich Arab Gulf, but the experience is particularly novel for investment companies and banks that adhere to Islamic, or sharia, law.
LEBANON: Turkey and Lebanon should work together to create a larger Islamic market in the Middle East and eastern Mediterranean region, said Lebanon`s parliamentary speaker Nabih Berry.
Berry said Turkey and Lebanon should also aim to enter European markets as well as member states of the Organization of the Islamic Conference. He felt that both countries would gain from such collaboration, as a large joint market would increase opportunities in production and export to all countries in the world.