The Chittagong Stock Exchange (CSE) has reviewed its Shariah --- an index comprised of Shariah-compliant stocks based on performance of the listed companies.
The new index will come into effect from January 22. The port city bourse reviews the index twice in a year, according to a statement of the port city bourse on Sunday.
As per the latest revision, two companies --- Beach Hatchery and Robi Axiata have been included in the Index, while three companies --- Imam Button Industries, Shurwid Industries, and Singer Bangladesh have been dropped from the previous list.
After the revision, 131 listed companies out of 370 listed securities have been selected for the group of CSE Shariah Index.
Since the Muslim law prohibits alcohol, gambling, prostitution, interest-bearing financial transactions and many other restrictions, companies engaged with such businesses are not investable to Shariah adherents.
The CSE Shariah index included Aamra Networks, Aamra Technologies, ACI Formulations, Acme Pesticides, ADN Telecom, Advent Pharma, AFC Agro Biotech, Agni Systems, Al-Arafah Islami Bank., Alif Industries, Aman Cotton Fibrous, Aman Feed, Ambee Pharma, Anwar Galvanizing, Apex Spinning & Knitting Mills, Associated Oxygen., Bangas, Bangladesh Lamps, Baraka Patenga Power, Bata Shoe, BBS Cables, BDCOM Online, BD Thai Aluminium, Beacon Pharmaceuticals, Beach Hatchery., Bengal Windsor Thermoplastics.
Berger Paints, Beximco Pharma, Central Pharma, Coppertech Industries, Daffodil Computers, Dominage Steel Building Systems., Doreen Power Generations & Systems, Dragon Sweater & Spinning, Eastern Cables, Eastern Housing, eGeneration, Esquire Knit Composite are also in the list.
Exim Bank, Familytex (BD), Far Chemical Industries, Far East Knitting & Dyeing, Fareast Islami Life Insurance, Fine Foods, First Security Islami Bank, Fortune Shoes, Fu-Wang Foods, Genex Infosys, Global Heavy Chemicals, Golden Harvest Agro Industries, Grameenphone, Hakkani Pulp & Paper Mills, Hamid Fabrics, Heidelberg Cement Bangladesh, Hwa Well Textiles are in the list.
Index Agro Industries, Indo-Bangla Pharma, IT Consultants, Intech, Intraco Refueling Station, Islami Bank, Islami Insurance, Islamic Finance & Investment, JMI Hospital Requisite Manufacturing, JMI Syringes & Medical Devices, Kay & Que, KDS Accessories, Khan Brothers PP Woven Bag Industries, Khulna Power Company, Khulna Printing & Packaging, Kohinoor Chemical, LafargeHolcim, Linde Bangladesh, Lub-rref (Bangladesh), ML Dyeing, Malek Spinning Mills, Marico Bangladesh, Matin Spinning Mills, Miracle Industries, MJL Bangladesh, Monno Ceramic, Mozaffar Hossain Spinning Mills, Nahee Aluminum Composite Panel, National Feed Mill, Navana CNG, Oimex Electrode, Olympic Accessories also in the list.
Olympic Industries, Pacific Denims, Padma Islami Life Insurance,Prime Islami Life Insurance, Prime Textile Spinning Mills, Quasem Industries, R.A.K. Ceramics, Rangpur Dairy & Food Products, Rangpur Foundry, Ratanpur Steel Re-Rolling Mills, Reckitt Benckiser (Bangladesh), Regent Textile Mills, Ring Shine Textiles, Robi Axiata, S.S. Steel, Saiham Cotton Mills, Saiham Textile Mills, Salvo Chemical Industry, Samata Leather Complex, Samorita Hospital, Shahjalal Islami Bank., Shahjibazar Power, Shinepukur Ceramics, Silco Pharmaceuticals, Silva Pharmaceuticals, Simtex Industries, Sinobangla Industries, SK Trims & Industries, Social Islami Bank, Sonali Paper & Board Mills, Standard Ceramic, Summit Alliance Port, Summit Power, Takaful Islami Insurance, The Dacca Dyeing, The IBN Sina Pharmaceuticals, Titas Gas, Union Bank, United Power Generation & Distribution Company, Usmania Glass Sheet Factory, VFS Thread Dyeing, Walton Hi-Tech Industries, Yeakin Polymer and Zaheen Spinning.
