Sign up | Log in



March 4, 2009

Philippine bourse mulls Islamic stock index

The Philippines Stock Exchange (PSE) said on Tuesday it is considering setting up an index of sharia compliant stocks to compete with the likes of Malaysia in capturing a slice of the Islamic investment market.

"We plan to look into it ... to see whether there is potential. Other exchanges in the Asian region are doing it so we might be left behind. We have to study it carefully," PSE President Francisco Lim told Reuters.

The stock exchanges of Malaysia, Indonesia and Singapore have established Islamic equity indexes while Thailand expects to launch its first such index next month.

About 30 companies on the Philippines stock exchange are sharia compliant, Lim said on the sidelines of an Islamic finance forum in the capital here. He also said a suggestion to establish an Islamic index for the Southeast Asian region was made at a regional meeting of exchange chiefs but there had been little development since.

However, plans to set up electronic links and create an Asean (Association of Southeast Asian Nations) trading board had progressed to the signing of memorandum of agreements last week between the bourses of the Philippines, Singapore, Malaysia, Indonesia and Thailand.

They are currently working on cost assessments for the infrastructure that will see the five exchanges each nominate 30 companies to be traded on a single linkage, Lim said. "I think cost is a big issue," he said, adding that there was no target date to launch the mechanism.

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited

submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand