The company "Futsis Russell," managing the London Stock Exchange and Abu Dhabi Stock Exchange, announced yesterday the launch of the Islamic index "Futsis Abu-Dhabi 15" (FADX 15), based on the general experience of "Futsis Russell" in providing indices for markets.
According to the exchange's statement, the FADX 15 index is aimed at satisfying the growing demand for investment products that are compliant with Islamic law, and providing specialized solutions for the Islamic finance market within the framework of the broad series of indices "Futsis Abu-Dhabi for securities" (FTSE ADX).
According to the report "Development of Islamic Financing 2023," the international sector of Islamic financing demonstrated significant growth, increasing by 11% to reach $4.5 trillion in 2022, with Islamic banking services accounting for 72% of the total assets in the sector. The sector has also grown by 163% since 2012, and it is expected that the growth rates will increase to $6.7 trillion by 2027.
The Executive Director of the Abu Dhabi Stock Exchange, Abdallah Salem Al Naimi, stated: "The Islamic index (FADX 15) is a confirmation of the Abu Dhabi Stock Exchange's obligation to support a strong and growing demand for instruments and solutions in Islamic finance." He added that "the new index provides investors with access to a diverse portfolio of leading companies in the Abu Dhabi market, adhering to strict compliance with Sharia standards."
