QUOTE(Student11 @ Jul 22 2012, 10:58 PM)
General guidelines for shariah compliant counters, quoted from the document "List of Shariah-Compliant Securities" of "Majlis Penasihat Shariah" of SC.
The SAC has applied a standard criterion in focusing on the activities of the companies
listed on Bursa Malaysia. As such, subject to certain conditions, companies whose
activities are not contrary to the Shariah principles will be classified as Shariah-compliant
securities. On the other hand, companies will be classified as Shariah non-compliant
securities if they are involved in the following core activities:
(a) Financial services based on riba (interest);
(b) Gambling and gaming;
(c) Manufacture or sale of non-halal products or related products;
(d) Conventional insurance;
(e) Entertainment activities that are non-permissible according to Shariah;
(f) Manufacture or sale of tobacco-based products or related products;
(g) Stockbroking or share trading in Shariah non-compliant securities; and
(h) Other activities deemed non-permissible according to Shariah.
I think ASTRO falls under the category (e).
Alhamdulillah for the info.CODE
The SAC has applied a standard criterion in focusing on the activities of the companies
listed on Bursa Malaysia. As such, subject to certain conditions, companies whose
activities are not contrary to the Shariah principles will be classified as Shariah-compliant
securities. On the other hand, companies will be classified as Shariah non-compliant
securities if they are involved in the following core activities:
(a) Financial services based on riba (interest);
(b) Gambling and gaming;
(c) Manufacture or sale of non-halal products or related products;
(d) Conventional insurance;
(e) Entertainment activities that are non-permissible according to Shariah;
(f) Manufacture or sale of tobacco-based products or related products;
(g) Stockbroking or share trading in Shariah non-compliant securities; and
(h) Other activities deemed non-permissible according to Shariah.
I think ASTRO falls under the category (e).