Nigerian Stock Exchange: NSE Reviews Composition Of The Lotus Islamic Index

The Nigerian Stock Exchange (NSE) announced the review of The NSE Lotus Islamic Index (NSE LII) to coincide with the end of the first quarter 2015. The Review became expedient following the expected merger of Lafarge Cement Plc and Ashaka Cement Plc later in the year. The recomposition of these indices after the review will be effective on Wednesday, April 1, 2015.

The Nigerian Stock Exchange in partnership with Lotus Capital Limited began publishing certified Shari’ah compliant Index known as the “NSE Lotus Islamic Index” or NSE LII in July 2012. The index consists of companies in conformity with the principles of Shari’ah and was the first index created to track the performance of Shari’ah compliant equities on the floor of the exchange. Investment instruments like Exchange Traded Funds (ETFs) were built on the Index which ethically minded investors, both in Nigeria and overseas can invested in.