British indexing group FTSE has further strengthened its drive into Islamic investment with a new co-operation agreement with Yasaar Research, an independent shariah screening company based in London.
FTSE says growing interest in Islamic investment vehicles has created a need for shariah-screened indices across a range of asset classes.
Yasaar offers financial institutional clients specialist advice on Shariah screening and investment. The groupÆs CEO, Majid Dawood, says, ôYasaar is committed to the ongoing development of the Islamic system of financial management û forging this alliance with FTSE brings world-class indexing standards to Islamic investment.ö
The pair will now work together on a series of investment products suitable for the Islamic investment community, with a series of shariah-compliant indices scheduled for launch within the next few months.
The first index to be launched under this partnership will be the FTSE SGX Asia Islamic 100, which will go live later this month. According to FTSE, the index has already generated a great degree of interest from product issuers.
The alliance with Yasaar is the latest move into the more specialised investment arena for FTSE. Only last month the group announced a series of new equity indices for Malaysia, which included plans for an Islamic indices in the country.