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KMI 30 Index

Pakistani stock market index From Wikipedia, the free encyclopedia

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KMI 30 Index is a stock market index on the Pakistan Stock Exchange in Pakistan of thirty companies that have been screened for Islamic Shariah criteria. The index was introduced on 2 September 2008,[1] and the base period for this Islamic index is 30 June 2008. It was created as a joint effort by the Karachi Stock Exchange (now known as Pakistan Stock Exchange) and Al-Meezan Investment Bank (now known as Meezan Bank Limited).[2]

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The index is calculated using free float market capitalization. At any point in time, the level of the index reflects the free float market value of selected Shariah-compliant shares in comparison with the base period. KMI-30 is recomposed semi-annually.[3]

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Selection criteria

For any stock to be "Shariah compliant" it must meet all of the following six criteria:[4]

  1. Core business of the company must be halal
  2. Interest-bearing debt to total assets should be less than 37%
  3. Illiquid assets to total assets should be greater than 25%
  4. Net liquid assets per share should be less than the market share price
  5. Non-compliant investments to total assets should be less than 33%
  6. Non-compliant income to total revenue should be less than 5%
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Constituents

Current (as of 31 December 2024)

Source:[5]

Former

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See also

References

External links

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