IslamicFinance.de

Dow Jones Indexes announced that Tebyan Asset Management has licensed the Dow Jones Islamic Market (DJIM) CHIME Index to benchmark its new fund, the Tebyan CHIME Opportunities Fund.
The DJIM CHIME Index is created to measure the performance of 100 leading stocks from China, India and the Middle East/North Africa (MENA) region that pass rules-based screens for Shari’ah compliance.
The index universe for the DJIM CHIME Index is determined by all stocks that pass Shari’ah screens, with hte purpose to remove companies in the following lines of business: alcohol, tobacco, pork-related products, conventional financial services, defense/weapons and certain types of entertainment. Also excluded are companies with financial ratios that are incompatible with Islamic investment principles.