Islamic Indexes
The MSCI Islamic Indexes exclude non-Sharia-compliant securities through business activity screening and total asset and market cap financial ratio screens. We adhere to Sharia investment principles, including incorporating dividend purification — donating a portion of income from non-compliant activities — into the total return calculation of our Islamic indexes.
Target benefitsBuild portfolios that follow Sharia investment principles
Methodology approved as Sharia-compliant by independent Sharia advisory committee of Islamic scholars.
Total asset and market cap financial ratio screens available to accommodate client preferences.
Screen for non-Sharia-compliant business activities such as those related to alcohol, tobacco and weapons.
Islamic index exclusions
We offer two index series that use similar business activity screening but different financial ratio screens.
Business activity:
- Alcohol
- Tobacco
- Cannabis
- Pork-related products
- Defense/weapons
- Conventional financial services
- Gambling/casinos
- Hotels
- Music
- Cinema
- Adult entertainment
- Online dating1
Financial ratio:
Islamic Index Series
Uses total assets as denominator
Islamic Index M Series
Uses average market capitalization as denominator
Explore Islamic IndexesView performance details, fact sheets and more
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For further details,
Related to Islamic Indexes
Islamic Indexes methodology
Take a deeper dive into our thinking behind our Islamic Indexes.
ESG Indexes
Choose from indexes that screen activities, integrate data or target themes to help meet your goals.
¹ Starting from the November 2021 Semi-Annual Index Review, online dating services are considered prohibited activities. Matrimonial services are not part of this screen.