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Creation of an Islamic stock index in West Africa
Affiliation:1. School of Business Studies, Central University of Kashmir, India;2. School of Business Studies, Central University of Kashmir, India;1. Southampton Business School, University of Southampton, Southampton, United Kingdom;2. Hull University Business School, University of Hull, Hull, United Kingdom;1. Centre for Development Studies, Prasanth Nagar, Medical College P.O., Ulloor, Truvandrum, Kerala 695011, India;2. Economic Research Unit, Indian Statistical Institute, 203 B.T. Road, Kolkata 700108, India;1. Cra. 6 # 34-51, Colegio de Estudios Superiores de Administración (CESA), Postal Code 110311, Colombia;2. Carrera 7 # 40-62, Pontificia Universidad Javeriana, Postal Code 110231, Colombia;1. Erasmus Mundus EPIC Staff Mobility Program, Cardiff Metropolitan University, Cardiff School of Management, UK;2. The University of Jordan, Amman 11942, Jordan;3. Economics and Finance, Cardiff Metropolitan University, Cardiff School of Management, Llandaff, Western Avenue, Cardiff CF5 2YB, UK;4. School of Business, Trinity College Dublin, College Green, Dublin 2, Ireland
Abstract:Islamic finance, which has become inescapable has entered into financial markets by offering solutions consistent with the precepts of the Shariah. The objective of this paper is to propose the creation of an Islamic stock index in West Africa. The choice of market values ​​requires extra financial and financial screening system. The results show that 10% of the securities in Nigeria Stock Exchange , the Regional Stock Exchange (Brvm) and the Ghana Stock Exchange (Gse) were selected to form the Islamic index " Ecowas Shariah index.
Keywords:Ecowas Shariah Index  Islamic screening  West Africa  Ghana stock Exchange  Nigeria stock exchange  Regional stock Exchange
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