RIMES Technologies, the financial data integrator, has added the MSCI Global Islamic Indices to its portfolio of data. The new indices are designed to reflect Sharia investment principles and their addition highlights RIMES’ commitment to providing products for the Islamic and for the international investment community.
“The MSCI Global Islamic Indices cover over 50 developed and emerging countries and over 50 regions such as the Gulf Cooperation Council (GCC) countries and Arabian markets,” said Henry Fernandez, Chief Executive Officer and President of MSCI Barra. “This clearly demonstrates our commitment to delivering new and innovative products and services for the Islamic investment community around the world. The launch of this new index family follows the opening of our office in Dubai earlier this year, and the launch of the MSCI GCC Countries Indices in 2006,” Mr Fernandez added.
The MSCI Global Islamic Indices were introduced to provide a consistently constructed and maintained family of indices following Sharia investment principles, while still retaining replicability for international investors. The indices incorporate dividend purification rules, which result in more relevant benchmarks for Sharia portfolios. The MSCI Global Islamic Indices are derived from the applicable MSCI country indices. Then according to the MSCI Islamic Index Series Methodology, the MSCI country indices are screened against a series of business activities and financial ratios, and a dividend adjustment factor is applied.
Christian Fauvelais, Chief Executive Officer and Co-President of RIMES Technologies commented: “RIMES operates across the globe and our portfolio of data reflects this. We recognise the importance of delivering the right services for the Islamic investment community and believe the MSCI Global Islamic Indices provide a unique set of global equity indices for investors worldwide that reflect Sharia investment principles.”
The MSCI Global Islamic Indices can be accessed through RIMES Online, providing browser-based access to pre-formatted reports for easy viewing, printing and downloading, or through RIMES RTXLNET, the powerful desktop add-in that turns Excel into a data and analytics browser. For the middle and back office, the MSCI Global Islamic Indices are also available via RIMES SmartFiles®, the custom file service which feeds the data directly into any applicable system, in any desired file format.