KMI 30 Index

KMI 30 Index
Foundation2008 (2008)
OperatorKarachi Stock Exchange Limited
ExchangesKarachi Stock Exchange
Constituents30
Weighting methodCapitalization-weighted index

KMI 30 Index is a stock market index on the Pakistan Stock Exchange in Pakistan of thirty companies that have been screened for Islamic Shariah criteria. The index was introduced in 2009 and the base period for this Islamic index is 30 June 2008. It was created as a joint effort by the Karachi Stock Exchange (now known as Pakistan Stock Exchange) and Al-Meezan Investment Bank (now known as Meezan Bank Limited).

The index is calculated using free float market capitalization. At any point in time, the level of the index reflects the free float market value of selected Shariah-compliant shares in comparison with the base period. KMI-30 is recomposed semi-annually.

Selection criteria

For any stock to be "Shariah compliant" it must meet all of the following six criteria:

  1. Business of the company
  2. Debt to total assets
  3. Illiquid assets to total assets
  4. Net liquid assets to share price
  5. Non-compliant investments to total assets
  6. Non-compliant income to total revenue

Constituents

Current

Former

See also

References

  1. ^ "KSE Meezan Index Fund".
  2. ^ "No, the stock market is not an accurate indicator of the economy". Profit by Pakistan Today. 22 August 2021.