Islamic finance awards 2008: Best index provider
Dow Jones boasts nearly 70 Islamic indices that cover a variety of Shariah-compliant equities and fixed-income securities around the globe. Now the group can lay claim to the largest, most visible and widely used set of Shariah-compliant indices in the world.
Dow Jones has capitalized on its first-mover advantage. In 1999, the group launched the Dow Jones Islamic Market Index. This was the first attempt by any global index provider to create a measurement tool for Shariah-compliant investors. Following this, Dow Jones launched the Citigroup sukuk index, the first one to measure the performance of global Islamic bonds.
To complement the indices, the Dow Jones Islamic group will launch an Islamic finance learning centre and a newsletter, DJIM Quarterly, dedicated to Dow Jones Islamic markets and Islamic finance.
Finally, and most crucially, unlike other index providers, Dow Jones also stands out for having established its own, independent Shariah supervisory board for the purpose of advising on these indices.