Total Market Capitalisation of Nigerian Shariah-Compliant Stocks Rises Above NGN 11.3 Trillion

Ndako Mijindadi, Head, Investment and Research at Nigeria-based ethical investment management company, Lotus Capital Limited, stated that the value of Shariah-compliant stocks totalled over NGN 11.3 trillion as per the Lotus Islamic Index. The index follows the performance of a group of selected Shariah-compliant equities listed on the Nigeria Exchange Limited (NGX).

Why it Matters?

Mijindadi stated that in selecting ethical assets for investment, the main consideration is Shariah compliance which is compulsory and as there are a variety of such instruments currently available, investment options are wider. He added that an essential element is also to understand the nature of the market-based instrument with special reference to, applicable regulations, r...