MSM Approves Sharia-Compliant Companies for 1st Quarter 2019

Muscat, The Muscat Securities Market (MSM)

today adopted a list of Sharia-compliant companies for the first quarter

of 2019.

The circular issued by MSM Operations Department showed that the

list of companies included 32 public shareholding companies whose

business and financial behavior conformed to the requirements of

Islamic Sharia according to the Sharia rules approved by the Islamic

Financial Accounting and Auditing Organization.

The list included al Anwar Ceramic Tiles, al Jazeera Services, al

Jazeera Steel Products, Medina Takaful, al Maha Ceramics, Izz Al

Islamic Bank, Nizwa Bank, Majan College , Oman Cable Industry,

Oman Cement, Oman Flour Mills, Omani Qatari Telecommunications

Company (Ooredoo), Shell Oman Marketing , Safa Foods, Salalah Port

Services and Takaful Oman Insurance, in addition to Dhofar Food

Industries, Dhofar Fisheries, Gulf Mushroom Industries, Al Kamil

Power, Muscat Gases, Muscat Thread Mills, National Biscuits

Industries, Oman Chromite, Oman Fisheries, Oman International

marketing, Oman Educational, Omani Packaging, National Real Estate

and Desert Hospitality.

The Sharia compliant list is being revised every three months by

adding companies that are compliant with standards and eliminating

companies that lose their eligibility. The Sharia index, which includes

the top 15 Sharia compliant companies for four consecutive quarters of

a full fiscal year, will be affected by this disclosure due to the entry of

al Maha Ceramics, and the departure of Raysut Cement Company.

Source: Oman News Agency