FTSE Russell, a leading global index, data and analytics provider, announced today the launch of the FTSE IdealRatings Islamic Index Series in collaboration with IdealRatings.

The FTSE IdealRatings Islamic Index Series measures the performance of the global Islamic equity securities across global markets. FTSE Russell is the benchmark administrator of the index series while IdealRatings is responsible for in depth research to identify the compliance of the index series constituents.

The new index series is based on the methodology of IdealRatings that accurately analyzes companies’ business activities and revenue breakdown. More than 40 unique categories of Shariah compliant guidelines are also identified by the IdealRatings research methodology.

Arne Staal, Chief Executive Officer, FTSE Russell, said:

“We are pleased to announce the expansion of our existing Shariah suite of indices. We have developed this broad range of Shariah-compliant indices to offer additional depth and choice for global investors. The new series combine our high standards of benchmark index design and governance with a choice of robust screening and selection process based on Islamic principles.”

Mohamed Donia, Chief Executive Officer, IdealRatings, commented:

“We are delighted to announce the launch of a new suite of Shariah compliant indices that covers global markets. Our partnership with FTSE Russell offers a new suite of innovative Islamic finance investment products that meet the requirements of international Islamic investors and will provide market participants the flexibility to invest in accordance with their Islamic finance screening principles.”

The FTSE IdealRatings Islamic Index Series will be reviewed on a quarterly basis in March, June, September, and December.