Press Release
Sequels to the signing of a Memorandum of Understanding (MoU) between The Nigerian Stock Exchange (NSE) and Lotus Capital Limited for the development and management of a certified Shari’ah compliant Index, arrangements havebeen concluded for the launching of the Index on Monday, July 30, 2012.
The Islamic Equity Index known as the “NSE Lotus Islamic Indexâ€ÂÂ(with the code NSE LII) will consist of companies in conformity with the principles of Shari’ah. The NSE LII,which is the first index created to track the performance of Shari’ah compliant equities on the floor of the bourse, will increase the breadth of the market and create an important benchmark for investments as the alternative non-interest investment space widens.
Speaking about the launching, The Exchange’s Project Manager for the NSE LII launch, Mr. Osahon Aire, explained that investment instruments like Exchange Traded Funds (ETFs) can be built on the Indexwhich investors with a preference for ethical/Shari’ah compliant investments can invest in. He added thatthe launching will tactically aid the development of the market.
Osahon noted: “The NSE Lotus Islamic Index would further illuminate the massive investment opportunities available to ethically minded investors, both in Nigeria and overseas. All the companies that would appear on the Index have been thoroughly screened by Lotus Capital Halal Investment, in accordance with a methodology approved by an internationally recognized Shari’ah Advisory Board comprising of renowned Islamic scholars.â€ÂÂ
The Project Manager for the NSE LII launch explained that the launching of the Index is an exciting development that is in line with The NSE’s mandate of broadening and deepening the Nigerian Capital Market.
Lotus Capital was founded in June 2004 with the specific objective of meeting the investment
Sequels to the signing of a Memorandum of Understanding (MoU) between The Nigerian Stock Exchange (NSE) and Lotus Capital Limited for the development and management of a certified Shari’ah compliant Index, arrangements havebeen concluded for the launching of the Index on Monday, July 30, 2012.
The Islamic Equity Index known as the “NSE Lotus Islamic Indexâ€ÂÂ(with the code NSE LII) will consist of companies in conformity with the principles of Shari’ah. The NSE LII,which is the first index created to track the performance of Shari’ah compliant equities on the floor of the bourse, will increase the breadth of the market and create an important benchmark for investments as the alternative non-interest investment space widens.
Speaking about the launching, The Exchange’s Project Manager for the NSE LII launch, MrOsahon Aire, explained that investment instruments like Exchange Traded Funds (ETFs) can be built on the Indexwhich investors with a preference for ethical/Shari’ah compliant investments can invest in. He added thatthe launching will tactically aid the development of the market.
Osahon noted: “The NSE Lotus Islamic Index would further illuminate the massive investment opportunities available to ethically minded investors, both in Nigeria and overseas. All the companies that would appear on the Index have been thoroughly screened by Lotus Capital Halal Investment, in accordance with a methodology approved by an internationally recognized Shari’ah Advisory Board comprising of renowned Islamic scholars.â€ÂÂ
The Project Manager for the NSE LII launch explained that the launching of the Index is an exciting development that is in line with The NSE’s mandate of broadening and deepening the Nigerian Capital Market.
Lotus Capital was founded in June 2004 with the specific objective of meeting the investment
needs of ethical individuals, businesses, and organizations across West Africa. It is a full-service, Halal Investment Management Boutique specializing in Shari’ah compliant Asset Management, Private Wealth Management Advisory Services and Financial Advisory Services.
Wole Tokede
Head | Media Relations
The Nigerian Stock Exchange
Stock Exchange House | 2-4 Customs Street | Lagos| Nigeria
Tel: +234-1-4485851 | Mobile: +234 (0) 803 318 1574
Email: wtokede@nse.com.ng
Visit our NEW Website –http://www.nse.com.ng
July 27, 2012
