Muscat, The Muscat Securities Market (MSM) today approved a list of Sharia-compliant companies for the second quarter of 2018.

The circular issued by the MSM Operations Department said that the list included 31 public shareholding companies whose business and financial behavior coincided with the requirements of Islamic Sharia according to the Sharia rules approved by the Islamic Financial Accounting and Auditing Organization.

The list included al Anwar Ceramic Tiles, al Jazeira Services, al Madinah Takaful, al Maha Ceramics, Izz Islamic Bank, Nizwa Bank, Oman Cables Industry, Oman Cement, Oman Flour Mills, Omani- Qatari Telecommunications Company (Ooredoo), Raysut Cement, Shell Oman Marketing, Safa Foods, Salalah Port Services, and Takaful Oman Insurance.

The list also included Computer Stationary, Dhofar Beverage and Foodstuff, Gulf International Chemicals, Gulf Mushrooms Products, Gulf Quarries, al Kamil Power, Muscat Gases, Muscat Thread Mills, National Biscuits Industries, Oman Chromite, Oman Fisheries, Oman International marketing, Oman Educational, Oman Packaging, National Real Estate and Desert Hospitality.

The list of Sharia-compliant companies is reviewed every three months with the addition of companies that are compliant with standards and the elimination of companies that lose their eligibility. The Sharia index, which includes the top 15 Sharia compliant companies for four consecutive quarters of a full fiscal year, will not be affected by this disclosure.

Source: Oman News Agency