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MSM okays 35 Sharia compliant firms


Muscat Securities Market (MSM) adopted a list of Sharia compliant companies for the second quarter of 2017 on Sunday.

The Circular issued by the Operations Department of Muscat Securities Market indicated that the list of companies included 35 public shareholding companies whose business and financial behaviour conformed to the requirements of Islamic Sharia according to the sharia rules approved by the Islamic Financial Accounting and Auditing Organisation.

The list includes Al Saffa Food, Al Anwar Ceramic Tiles, Al Izz Islamic Bank, Al Jazeera Services, Al Kamil Power, Al Madina Takaful, Al Maha Ceramics, Bank Nizwa, Computer Stationery Industry, Dhofar Beverages and Food Stuff, Gulf International Chemicals, Gulf Mushrooms Products, Gulf Quarries, Majan Glass, Muscat Gases, Muscat Thread Mills, National Biscuit Industries, National Real Estate Development, Oman Cables Industry, Oman Cement, Oman Fisheries, Oman Flour Mills, Oman International Marketing, Oman Packaging, Oman Refreshments, Omani Telecommunications, Ooredoo, Port Services Corporation, Raysut Cement, Salalah Port Services, Shell Oman Marketing, Takaful Oman Insurance, United Power, and Voltamp Energy.

The list of Sharia-compliant companies is reviewed every three months by adding standards-compliant companies and eliminating those that lost 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.

Oman News Agency