FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



Latest topics

» SANASA DEVELOPMENT BANK PLC (SDB.N0000)
by madukp Today at 2:46 am

» DIPD/HAYC/HAYL
by cheetah Today at 12:16 am

» NATIONS TRUST BANK PLC (NTB.N0000)
by ColomboCSE Yesterday at 10:52 pm

» Sri Lanka's Debt Dynamics
by sanjeewa88 Yesterday at 7:50 pm

» TRUE VALUE OF LANKA ALUMINUM INDUSTRY (LALU)
by Wolf86 Yesterday at 7:32 pm

» Value first and BUY second !
by EquityChamp Yesterday at 7:26 pm

» Amana Takaful ATL & ATLL
by apphunter Yesterday at 6:09 pm

» Blossom March
by vijay singh Yesterday at 5:16 pm

» TILE / LWL / RCL
by subash81 Yesterday at 4:56 pm

» RICH or TKYO
by subash81 Yesterday at 4:56 pm

» LALU.N0000
by Jana Yesterday at 4:48 pm

» LANKA ALUMINIUM INDUSTRIES PLC (LALU.N0000)
by Jana Yesterday at 4:45 pm

» BROWNS INVESTMENTS PLC (BIL.N0000)
by stockchaser Yesterday at 4:33 pm

» UNHCR Fear is over 21 countries speak for us only 15 against
by Equityinvestor Yesterday at 4:06 pm

» CSE Crossings for the week
by Pradeep90 Yesterday at 12:16 pm

» SEMB SEMB
by stockchaser Yesterday at 12:09 am

» Leading brokers causing market downturn
by dhanushkacse Sat Feb 27, 2021 10:18 pm

» පෙබරවාරි මාසේ කොළඹ කොටස් වලට මොකක්ද වුනේ - බැසුවාද ? බැස්සාද ?
by Nishan Cooray Sat Feb 27, 2021 9:42 pm

» Daily Foreign Transactions
by Mithooshan Sat Feb 27, 2021 7:31 am

» SOFTLOGIC HOLDINGS PLC (SHL.N0000)
by suku502 Sat Feb 27, 2021 12:58 am

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Shariah Compliant Shares

Shariah Compliant Shares

Go down  Message [Page 1 of 1]

1Shariah Compliant Shares Empty Shariah Compliant Shares Wed Mar 30, 2011 10:22 am

marketsee

marketsee
Manager - Equity Analytics
Manager - Equity Analytics
Sri Lanka gets 'Shariah' compliant share list

Sri Lankan stock broker Lanka Securities has introduced a 'Shariah' compliant share list to meet the requirements of both local and foreign Islamic investors on the Colombo Stock Exchange.

The screening methodology for stocks is designed to ensure compliance with the Shariah laws and principles of Islamic finance, a statement said.

Lanka Securities, a joint venture between Pakistan's First Capital Securities Corporation, Bank of Ceylon and Merchant Bank of Sri Lanka, said the list will be reviewed on a weekly basis to capture the impact of the price movements of the equities.

"LSL Shariah Compliant Securities List has been designed and developed to be used as a basis of Shariah complaint equity investments at the CSE," it said.

Shariah forbids interest and making ‘money from money’ and encourages that wealth be generated through legitimate trade.

While Shariah compliant investment avenues are now becoming available in most countries, Sri Lanka has not seen large-scale development, the statement said.

Companies involved in several activities will be filtered out as non Shariah-complaint, Lanka Securities said.

These are conventional banking, insurance, financial services, or any other interest-related activity, alcohol, pork-related products and non-halal food production, packaging and processing or any other activity related to pork and non-halal food.

Entertainment like casinos, gambling and pornography, tobacco, weapons, arms and defense manufacturing are also excluded.

Lanka Securities said the remaining companies are then further screened on a financial basis.

It identified several financial ratios that must be met for companies to be considered Shariah-complaint.

Total interest and income from non-compliant activities should not exceed 5.0 percent of the total revenue and interest bearing debt must be less than 30 percent of the market capitalisation.

Also, interest earning deposits must be less than 30 percent of the market capitalisation, and accounts receivable, prepayments and cash must be less than 50 percent of the total assets.

New firms listed in the CSE it will be added to the list if they meet the criteria.

The financial data on which the list is based on will be updated quarterly when the companies release the interim financials.

Lanka Securities said the business and financial screeners have been identified looking at the industry best practices along with the guidance set by the Accounting and Auditing Organisation for Islamic Financial Institutions.

2Shariah Compliant Shares Empty Re: Shariah Compliant Shares Wed Mar 30, 2011 10:26 am

marketsee

marketsee
Manager - Equity Analytics
Manager - Equity Analytics
‘Amana White List’ is the list of Shari’ah compliant companies listed on the Colombo Stock Exchange. To determine their eligibility for the ‘White List’, the stocks are screened to ensure that each meets the Shari'ah requirements for acceptable products, business activities, debt levels, and interest and other non-Shari’ah compliant income.



Methodology

Amana White List screening process begins with identifying whether the company’s core business is Halal. This process excludes any companies involved in grey areas in the perspective of Sharia’h. Such disqualifying businesses may include, but are not limited to

i. Alcohol

ii Tobacco

iii Pork and other Non-Halal meat products

iv Defence/weapons

v Conventional financial services (banking, insurance, etc)

vi Entertainment (hotels, casinos/gambling, cinema, pornography, music etc)



If a Company’s core business is Halal, but also includes a segment of income coming from Non-Halal activities, this income should not exceed 5% of total revenue for the group for it to be considered in the White List:



After screening for Company’s core business activity Secondly, we ensure that the company adheres to permissible financial ratios under the Sharia’h ruling. These ratios are evaluated on a monthly basis and the company’s financials are updated as per their quarterly financial reports.



According to the prescribed financial ratios, each of the following criteria must be fulfilled.

· Interest bearing debt must be less than 33.33% of the Company’s equity.

· Current Assets/Equity must not exceed 49%.

· Interest received and Non-Shariah compliant Income for the Company must not exceed 5% of total revenue.

· Equity constitutes of Share capital, Reserves, Minority Interest, Accumulated Profits/Losses


BUT AMANA DID NOT UPDATING THERE WHITE LIST
I HAVE NEW LIST IT HAVE MORE COMPANIES THAN AMANAS LIST

reyaz likes this post

3Shariah Compliant Shares Empty Shariah Compliant Shares Wed Mar 30, 2011 10:30 am

SpaceCab


Stock Analytic
Stock Analytic
Can please post your white list? thanks

4Shariah Compliant Shares Empty Re: Shariah Compliant Shares Wed Mar 30, 2011 10:42 am

marketsee

marketsee
Manager - Equity Analytics
Manager - Equity Analytics
This list was updated on 30 june 2010

https://docs.google.com/viewer?a=v&pid=explorer&chrome=true&srcid=1Ude4q8FUR_GHtwPEbRYmr62CCjMrpINM5b0lSOOUlj0aIKN2N_yTwRE71kn8&hl=en&authkey=COHi_q8P

and I heard RICH,HHL and some more PLC want to include in this list and also some new IPOs that are already listed Smile

5Shariah Compliant Shares Empty Re: Shariah Compliant Shares Wed Mar 30, 2011 2:59 pm

TuskerLK

TuskerLK
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
it would be greatful if you can upload the list with values you considered and the respective ratios, preferabally in excel format.

thanks in advance

6Shariah Compliant Shares Empty Re: Shariah Compliant Shares Thu Mar 31, 2011 10:30 am

marketsee

marketsee
Manager - Equity Analytics
Manager - Equity Analytics
tinyman wrote:it would be greatful if you can upload the list with values you considered and the respective ratios, preferabally in excel format.

thanks in advance

I got this list from my broker (from Asia Securities)

7Shariah Compliant Shares Empty Re: Shariah Compliant Shares Tue Sep 22, 2020 3:57 pm

rtymia


Stock Trader
is this white list available? can anyone please provide the link?

8Shariah Compliant Shares Empty Re: Shariah Compliant Shares Tue Sep 22, 2020 4:33 pm

Junior investor

Junior investor
Manager - Equity Analytics
Manager - Equity Analytics
''If a Company’s core business is Halal, but also includes a segment of income coming from Non-Halal activities, this income should not exceed 5% of total revenue for the group for it to be considered in the White List:''

irony and hypocrisy

dayandacool, Baba2020 and rtymia like this post

9Shariah Compliant Shares Empty Re: Shariah Compliant Shares Wed Sep 23, 2020 12:01 pm

realman


Stock Analytic
Stock Analytic
http://www.ft.lk/financial-services/I-Capital-Partners-launches-Sri-Lanka-s-Equity-White-List/42-705986

rtymia likes this post

10Shariah Compliant Shares Empty Re: Shariah Compliant Shares Wed Sep 23, 2020 5:13 pm

reyaz

reyaz
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
This becomes useful to those who are interested Islam or who are providing services of stock trading in the CSE to foreign investors in the middle-east. There is an element of ethics to the process of generating the "White-List", not everyone can do this (Not every Muslim you meet anyway). The checks include, among many things, whether the company in question deals with Interest (Usury in capital and finance) and/or deals with consumables not permitted by Allah (for instance food is one category of consumables, and pork & Alcohol are few of many examples) and/or is the company in question, in the trade of forbidden activities-- Gambling and harmful sports are some examples. 

So just in case you get a white-list and it includes the name of a company that carries out anything not allowed by Shariah law, you know you have not got your moneys worth.

Baba2020 likes this post

11Shariah Compliant Shares Empty Re: Shariah Compliant Shares Wed Sep 23, 2020 5:23 pm

sheildskye

sheildskye
Manager - Equity Analytics
Manager - Equity Analytics
@reyaz wrote:This becomes useful to those who are interested Islam or who are providing services of stock trading in the CSE to foreign investors in the middle-east. There is an element of ethics to the process of generating the "White-List", not everyone can do this (Not every Muslim you meet anyway). The checks include, among many things, whether the company in question deals with Interest (Usury in capital and finance) and/or deals with consumables not permitted by Allah (for instance food is one category of consumables, and pork & Alcohol are few of many examples) and/or is the company in question, in the trade of forbidden activities-- Gambling and harmful sports are some examples. 

So just in case you get a white-list and it includes the name of a company that carries out anything not allowed by Shariah law, you know you have not got your moneys worth.
Actually, already know the basics. But why are cigarettes\tobacco not halal?

Also why isn't Dialog in the list? aren't they eligible? they from a Muslim Country after all.

12Shariah Compliant Shares Empty Re: Shariah Compliant Shares Wed Sep 23, 2020 5:32 pm

realman


Stock Analytic
Stock Analytic
for those who need white list 

please subscribe using below link 

 http://icp.lk/WhitelistSubscription.php

13Shariah Compliant Shares Empty Re: Shariah Compliant Shares Wed Sep 23, 2020 5:38 pm

reyaz

reyaz
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@sheildskye wrote:
@reyaz wrote:This becomes useful to those who are interested Islam or who are providing services of stock trading in the CSE to foreign investors in the middle-east. There is an element of ethics to the process of generating the "White-List", not everyone can do this (Not every Muslim you meet anyway). The checks include, among many things, whether the company in question deals with Interest (Usury in capital and finance) and/or deals with consumables not permitted by Allah (for instance food is one category of consumables, and pork & Alcohol are few of many examples) and/or is the company in question, in the trade of forbidden activities-- Gambling and harmful sports are some examples. 

So just in case you get a white-list and it includes the name of a company that carries out anything not allowed by Shariah law, you know you have not got your moneys worth.
Actually, already know the basics. But why are cigarettes\tobacco not halal?

Also why isn't Dialog in the list? aren't they eligible? they from a Muslim Country after all.
Cigarettes/ Tobacco is obvious-- it is harmful to health

As for Dialog, In 2013, when I was working in Amana Takaful there was an argument that telecom service providers including and not limited to Dialog, were providing internet services, hence providing entertainment with harmful sports and adult contemporary entertainment, which are also forbidden according to Hadith-- Examples (Holy book of Islam) set by our beloved Prophet Muhammad. But I dont know the latest stance of the Sharia Supervisory Board, whose members decides which companies should be included in the list.

14Shariah Compliant Shares Empty Re: Shariah Compliant Shares Thu Sep 24, 2020 12:36 am

dayandacool

dayandacool
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Junior investor wrote:''If a Company’s core business is Halal, but also includes a segment of income coming from Non-Halal activities, this income should not exceed 5% of total revenue for the group for it to be considered in the White List:''

irony and hypocrisy
Irony and Hypocrisy In deed. This white list is equal to hardcore name sake buddhists requesting to ban beef but keeps mum about other meat / fish.

when you want to eat, you make a Thalagoya out of a kabaragoya. no less no more!!! 

Disc- I'm a buddhist  Very Happy Very Happy Very Happy

judecroos likes this post

15Shariah Compliant Shares Empty Re: Shariah Compliant Shares Thu Sep 24, 2020 1:17 am

Master D


Manager - Equity Analytics
Manager - Equity Analytics
Shariah madness is too much all over the place.
Soon, there will be shariah complaint list for everything to make middle east idiots happy.

Inthikahb M Wazeer and judecroos like this post

Baba2020 dislikes this post

16Shariah Compliant Shares Empty Re: Shariah Compliant Shares Thu Sep 24, 2020 6:03 am

Inthikahb M Wazeer


Senior Equity Analytic
Senior Equity Analytic
@Master D wrote:Shariah madness is too much all over the place.
Soon, there will be shariah complaint list for everything to make middle east idiots happy.

Agree this is truly madness and unnecessary. I dont think then they can buy expo because they do freight and they could do logistics to import and export pork, alcohol.......
Then Hotel sector they serve alcohol and pork too😁😁

This is too much and crazy.

Baba2020 dislikes this post

Sponsored content


Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum