Bloomberg and IdealRatings announce Sharia Compliant Indicator for Sukuk on Bloomberg Terminal
Dubai, 18 December 2023 – Bloomberg announced today with IdealRatings, a financial data provider specializing in Islamic finance solutions, the launch of Islamic/Sharia-compliant indicator for fixed income securities (Sukuk) on the Bloomberg Terminal. This indicator, designed by IdealRatings to comply with the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) guidelines, marks a significant enhancement in the tools available to investors for identifying Shariah-compliant securities.
IdealRatings, known for its rigorous screening, plays a pivotal role in providing the newly launched Sukuk indicator to the Bloomberg Terminal, adhering to globally recognized AAOIFI standards. IdealRatings’ process involves assigning a clear pass, fail, or restricted status to each Sukuk, strictly following AAOIFI’s principles. This contribution is a significant addition to the Bloomberg Terminal’s capabilities in the area of Islamic finance, complementing the existing equities screening flag and enriching its analytical tools.
UAE News 24/7 