6 companies enter CSE Shariah index, 5 out
The revised CSE Shariah Index will include 126 listed companies
The Chittagong Stock Exchange (CSE) has included six companies in its Shariah Index (CSI) and dropped five from the list.
The changes will come into effect from 23 May.
As part of the CSE's half-yearly index review, Asiatic Laboratories, Baraka Power, Far Chemical, Legacy Footwear, Rahima Food Corporation, and United Power Generation & Distribution Company entered the list of Shariah-compliant securities.
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On the other hand, five companies ACI Formulations, Beacon Pharmaceuticals, Saiham Cotton Mills, Square Pharmaceuticals, and Standard Ceramic Industries were excluded from the previous list.
The reviews are based on the companies' performance in terms of Shariah compliance that attracts Islamic institutional investors alongside religious Muslim individuals.
Islamic economics prohibits interest and promotes fair trade for transactions involving the production, sale, or consumption of goods and services that are permissible according to Islamic law
The revised CSE Shariah Index will include 126 out of the 382 listed companies being traded at the port city bourse.
These are-aamra Networks, aamra Technologies, Acme Pesticides, ADN Telecom, Advent Pharma, AFC Agro Biotech, Agni Systems, Al-Arafah Islami Bank, Alif Industries, Aman Cotton Fibrous, Ambee Pharmaceuticals, Anwar Galvanizing, Apex Foods, Apex Spinning & Knitting Mills, Asiatic Laboratories, Associated Oxygen, Bangas, Bangladesh Building Systems, Baraka Patenga Power, Baraka Power, Bata Shoe Company (Bd), BBS Cables, BDCOM Online, BD Thai Aluminium, Beach Hatchery, Bengal Windsor Thermoplastics, Berger Paints Bangladesh, Beximco, Beximco Pharmaceuticals, Central Pharmaceuticals, Coppertech Industries, Daffodil Computers, Dominage Steel Building Systems, Doreen Power Generations And Systems, Dragon Sweater And Spinning, Eastern Cables, eGeneration, Esquire Knit Composite, Export Import Bank Of BD, Far Chemical Industries, Far East Knitting & Dyeing Industries, Fareast Islami Life Insurance Company, Fine Foods, First Security Islami Bank, Fortune Shoes, Fu-Wang Foods, GBB Power, Global Heavy Chemicals, Global Islami Bank, GQ Ball Pen Industries, Grameenphone, Hakkani Pulp & Paper Mills, Hamid Fabrics, Heidelberg Cement Bangladesh, Hwa Well Textiles (Bd), Index Agro Industries, Indo-Bangla Pharmaceuticals, IT Consultants, Intraco Refueling Station, Islami Bank Bangladesh, Islami Insurance Bangladesh, Islamic Finance & Investment, JMI Hospital Requisite Manufacturing, JMI Syringes & Medical Devices, Kay & Que (Bangladesh), KDS Accessories, Khan Brothers PP Woven Bag Industries, Khulna Power Company, Kohinoor Chemical Co (Bd), LafargeHolcim Bangladesh, Legacy Footwear, Linde Bangladesh, Lub-Rref (Bangladesh), ML Dyeing, Malek Spinning Mills, Marico Bangladesh, MJL Bangladesh, Monno Ceramic Industries, Mozaffar Hossain Spinning Mills, Nahee Aluminum Composite Panel, National Feed Mill, Navana CNG, Oimex Electrode, Olympic Accessories, Olympic Industries, Pacific Denims, Padma Islami Life Insurance, Prime Islami Life Insurance, Prime Textile Spinning Mills, Quasem Industries, RAK Ceramics (Bd), Rahima Food Corporation Ltd, Rangpur Dairy and Food Products, Rangpur Foundry, Ratanpur Steel Re-Rolling Mills, Reckitt Benckiser (Bangladesh), Regent Textile Mills, Robi Axiata, Saiham Textile Mills, Salvo Chemical Industry, Samata Leather Complex, Samorita Hospital, Shahjalal Islami Bank , Shahjibazar Power Co, Shinepukur Ceramics, Silco Pharmaceuticals, Silva Pharmaceuticals, Simtex Industries, Sinobangla Industries, SK Trims & Industries, Social Islami Bank , Sonali Paper & Board Mills, Summit Alliance Port, Summit Power, Takaful Islami Insurance, The Dacca Dyeing, The Ibn Sina Pharmaceuticals Industry, Titas Gas, Trust Islami Life Insurance, Union Bank, United Power Generation & Distribution Company, Usmania Glass Sheet Fac Ltd, VFS Thread Dyeing, Walton Hi-Tech Industries, Yeakin Polymer, and Zaheen Spinning.
