Egyptian Stock Exchange Launches “EGX33” Shariah Index

The Chairman of the Egyptian Stock Exchange Ahmed Al-Sheikh announced the launch of the EGX33 Shariah Index, which includes 33 companies whose activities are consistent with the provisions and principles of Islamic Sharia. 

The companies were selected according to a methodology approved by the Sharia Supervision Committee, which includes a group of Sharia scholars and experts in Islamic economics and jurisprudence of financial transactions. These companies represent 16 companies. One of the sectors whose company securities are listed on the Egyptian Stock Exchange.

Sheikh said in a statement: There have been repeated requests from a large number of local, regional and international investors to launch the Sharia index on the Egyptian Stock Exchange due to their desire to invest in companies whose activities are consistent with the provisions and principles of Islamic Sharia.

He added that the EGX33 Shariah Index was created by an Egyptian work team due to the Egyptian Stock Exchange’s long history and accumulated institutional experience in issuing successful indicators, which began with the EGX30 Index in 2003, whether for workers in the technical management of the indicators, the information technology sector, or those working in the field of financial culture and public relations.