The paper deals with Islamic market indexes, which are benchmarks to represent Islamic-compliant portfolios. Muslim investments and investors are becoming more and more important on the world's capital markets. The indexes undoubtedly support the decision-making process and therefore play an important role in the functioning of the markets. The paper presents selected Islamic market indexes, mainly Dow Jones and FTSE. It focuses on the major characteristics of the indexes: providers, calculation method, number of subindices and company selection. Special attention is given to the implementation of Islamic indices and assessment whether Islamic-compliant portfolios are expected to provide a higher rate of return than unrestricted portfolios.

Keywords: stock market indices, Islamic finance.

  Jacek Karwowski, Islamic Market Indexes - plik pdf; (123 KB)