A new Sharia-compliant index has been launched by ratings agency Standard and Poor's (S&P) in partnership with the Organisation of Islamic Co-operation (OIC).

The S&P COMCEC 50 Sharia Index measures the performance of companies whose exchanges are members of the OIC and consists of the largest stocks from countries in Africa, Central and Southeast Asia and across the Arab world.

The index was launched during the second meeting of the Organisation for Economic Co-operation and Development task force of MENA Stock Exchanges for Corporate Governance held at Istanbul.

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