FTSE Group And Yasaar Research Collaborate To Provide Enhanced Islamic Indexing Service

Yasaar Research Inc., the independent Shariah screening company (a subsidiary of Yasaar Limited, the Shariah consultancy), and FTSE Group (FTSE), the award-winning index company, today announce that they have signed a co-operation agreement to work together on the provision of index products suitable for the Islamic investment community. Growing interest in Islamic investment vehicles has created a renewed demand for Shariah-screened indices covering a range of asset classes, and by combining their expertise, FTSE and Yasaar believe they can offer a new and innovative approach to Islamic indexing.

Yasaar offers a unique approach to Shariah screening, which involves an innovative set of financial analysis points, and its panel of Shariah scholars have extensive market expertise in all of the world’s major financial centres. Coupled with FTSE’s world-renowned index design and calculation skills, the two organisations can now offer investors customised or standard indexes covering the global markets, which are entirely compliant with Shariah principles.

Majid Dawood, Chief Executive of Yasaar said, “Yasaar is committed to the ongoing development of the Islamic system of financial management – forging this alliance with FTSE brings world-class indexing standards to Islamic investment.”

Donald Keith, Deputy Chief Executive, FTSE Group added, “Linking with a pioneering organisation such as Yasaar means that FTSE will continue to offer value-added specialist index services to international investors.”

The first index to be launched under the aegis of this co-operation will be the FTSE SGX Asia Islamic 100, which will be live during February 2006. The index, which benefits from unique screening and design features, has already generated a great deal of interest from product issuers. Further collaboration on other index series is expected during the course of 2006.