Data vendor Bloomberg has launched the Bloomberg Islamic Finance Platform (ISLM), a new service designed to maximise investment performance for firms involved in Sharia-compliant trading.
Bloomberg ISLM offers: relevant news coverage; structured diagrams of financial instruments; screening of over 35,000 Sharia-compliant stocks; a database of more than 500 Islamic funds; credit ratings and searchable data on Islamic loans; a listing of more than 70 Islamic banks and; profiles on all prominent Islamic institutions and regulators.
The new service also includes an Islamic community database that provides details of more than 250 Sharia scholars with details on which sukuk they have rated, boards they represent and their fatwa endorsements.
Bloomberg also launched a Malaysian ringgit (MYR) sukuk index in cooperation with the Association of Islamic Banking Institutions in Malaysia, to provide a benchmark for MYR sovereign sukuk investments.
“Islamic products and services present feasible and competitive alternatives to conventional methods of investment,” said Sheikh Mohd Daud Bakar, managing director, Amanie Islamic Finance Consultancy and Education. “They are increasingly popular as financing and investment tools.”
Bloomberg currently provides news services and information through 146 bureaus in 72 countries.