Dow Jones converted to Islam
On the New York Stock Exchange, a new indicator of the securities market. The five major
indices, calculated by Dow Jones, recently added the DJIM - the Dow Jones Islamic market.
The main criterion for selection of securities on the basis of quotations which will be
calculated a new index - compliance by issuers of shares of manufactured products Sharia
and traditions of the Islamic world.
Appearance on America's major trading platform so unusual indicator is due, of course, not
the leaders of indiscriminate conversion of the exchange and market participants in the
Muslim faith. Guide New York Stock Exchange (NYSE) just decided that the daily publication
of this indicator will certainly catch the attention of potential market participants from
rich Arab countries.
It is assumed that with the advent of DJIM Arab and Kuwait sheikhs prefer not to spend
money on diamonds in Antwerp, say, or thoroughbred horses, the London auction, and the
purchase of shares in companies whose products do not hurt the feelings of a devout
Muslim.
Many analysts agreed that the leaders of the NYSE and Dow Jones went the right way: the
flow of Arab capital to the stock exchange and, accordingly, the U.S. economy (70%
selected to calculate the index of companies - the U.S.) will be visible in the near
future. A Guide Chicago Mercantile Exchange has already announced that will soon begin
trading futures contracts on the new index.
So, if you believe the experts, the prospects for undertaking NYSE and Dow Jones are not
bad. However, establishing criteria for selection "settlement" companies, the
LSE seems to be too strictly adhered to Sharia law. The list does not include companies
that produce pork, alcohol and tobacco and selling these products, the company
representing the entertainment industry (casinos and cinemas, etc.), as well as insurance
and finance companies are living on the percent of transactions. Not included in the base
index of manufacturers and sellers of weapons and military equipment.
The latter can play a cruel joke with the developers of the new index - the demand for
such products in the Muslim East is high, perhaps more than anywhere else in the world.
And the proud inhabitants of the Arabian peninsula seems to have no qualms about buying a
wrong tanks and sniper rifles.