Today, Bloomberg’s Professional division announced the launch of a Bloomberg Islamic Finance Platform (ISLM), which will provide tools and services for investors who want to be compliant with Shariah law.
It also announced the launch of a Malaysian Ringgit (MYR) sukuk index to provide a benchmark for MYR sovereign sukuk investments, in conjunction with the Association of Islamic Banking Institutions Malaysia (AIBIM).
“The Islamic marketplace is growing rapidly and there is high demand for a wide range of resources,” Dan Doctoroff, President of Bloomberg L.P, said in a statement. “Bloomberg is delighted to increase its commitment to serve this dynamic market, where we have nearly 20 years of experience in reporting on Islamic financial news, in all regions and across multiple asset classes.
According to the press release, the new platform will provide resources for investors in fixed income, equities and money markets that comply with Shariah including:
- Sukuk– News coverage, analytics and search tools of more than 1,500 Islamic bond issues globally including fatwa endorsements and structured diagrams of the financial instruments. It also includes credit ratings and searchable data on Islamic loans globally.
- Equities & Funds – Screening of over 35,000 Shariah-compliant stocks by prominent screening agencies. Database of more than 500 Islamic funds with ability to research and monitor debt, commodities, equities and exchange traded funds (ETFs).
- Islamic Community Database – Providing full transparency into more than 250 Shariah scholars with details on which sukuk they have rated, boards they represent and their fatwa endorsements. Also included is a listing of more than 70 Islamic banks and profiles on all prominent Islamic institutions and regulators.
- Regional specific content – Carrying the Malaysia International Islamic Financial Centre (MIFC) initiative’s content, developed in collaboration with Bank Negara Malaysia and other MIFC community members; providing insights on Shariah, MIFC business opportunities and key developments; and listing the more than 90 community members for business connections.