DFM wins Global Finance’s ’Best Stock Exchange for Sharia Compliant Listings’ Award

DUBAI, 11th July 2016 (WAM) --- Dubai Financial Market (DFM) has been recognised as the Best Stock Exchange for Shariah-Compliant Listings as part of Global Finance magazine's ninth annual review of the World's Best Islamic Financial Institutions. Winners will be honoured during an award ceremony due to take place in Washington, October 2016 on the sidelines of the IMF/World Bank meetings. The publication cited "DFM's position as the leading market in the region and, indeed, globally for listing Shariah-compliant equity listings and Sukuk", as part of the deliberations in granting the award. Chairman of DFM, Essa Kazim, said: "We are pleased with this recognition, which indicates DFM's leading position as the first Sharia compliant exchange in the world. The exchange also plays a key role in realising the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime minister of the UAE and Ruler of Dubai to strengthen the position of the Emirate as the Capital of Islamic Economy. "Over the past years, DFM has been a dynamic force in driving the financial sectors regulatory enhancements through the introduction of standards for equities and Sukuk. Additionally and in order to provide investors with a trusted reference, our Sharia Section quarterly updates the list of complying companies, which currently includes 38 listed companies in line with DFM's standard for owning and trading of shares and based on a thorough revision of their financial statements and operations," he added. It is noteworthy that the DFM became the first Sharia compliant exchange globally in 2007 immediately after its public offering and listing in a first of its kind step amongst stock exchanges in the region. - Emirates News Agency, WAM - http://www.wam.ae/en/news/economics/1395297616113.html