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 benefits
Build portfolios that follow Sharia investment principles

Access independently approved methodology

Methodology approved as Sharia-compliant by independent Sharia advisory committee of Islamic scholars.

Choose from two index series

Total asset and market cap financial ratio screens available to accommodate client preferences.

Exclude range of business activities

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 

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.