The Muscat Securities Market (MSM) has revealed that the revised Shariah Index, which consists of 32 listed companies, will begin trading on Sunday, September 14, reported Muscat Daily, adding that MSM revises the sample every three months.

The revised index includes: Al Anwar Ceramic Tiles, Al Jazeera Services, Alizz Islamic Bank, Bank Nizwa, Construction Material Industries, Computer Stationery Industries, Dhofar Beverages and Foodstuff, Gulf Mushroom Products, Majan Glass, Muscat Gases, Muscat Thread Mills, National Biscuit Industries, Oman Qatari Telecommunications (Nawras), Oman Chlorine and Oman Chromite, Oman Cement, Oman Education & Training, Oman Fisheries, Oman Flour Mills, Oman Oil Marketing, Oman Refreshment, Sweets of Oman, Omantel, Oman Textile Holding, Port Services Corporation, Raysut Cement, Shell Oman Marketing, Al Saffa Foods, Al Madina Takaful, National Gas, Oman Fiber Optics and Takaful Oman.

Following the revision, observers and experts believe that the index constituents will attract a new category of investors, those who are interested in a reliable reference that will help them identify investments that meet the requirements of Sharia’a.

This step is expected to contribute to the development and growth of the Islamic finance market in the Sultanate.