CSE revises Shariah Index, effective from Jan 22

Two firms included, three excluded from previous list

FE REPORT | January 09, 2023 00:00:00

The Chittagong Stock Exchange (CSE) has reviewed its Shariah index based on the performance of the listed companies

The new index will come into effect on January 22. The port city bourse reviews the index twice a year, according to a statement of the bourse made on Sunday.

In the latest revision, two companies --- Beach Hatchery and Robi Axiata have been included in the Index, while three companies --- Imam Button Industries, Shurwid Industries, and Singer Bangladesh have been dropped.

After the revision, 131 listed companies out of 370 have been selected for the group index that is comprised of Shariah-compliant stocks.

Since the Shariah law forbids alcohol, gambling, prostitution, interest-bearing financial transactions and many other activities, businesses reliant on those are not allowed in the index.

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