Amiri S3 Shariah Stock Screening
Amiri S3 Key Differentiators
Amiri S3 is the leading product in Shariah Stock Screening. Key advantages of Amiri S3 are:
1. Fatwa : Amiri S3 is the only system issued a Fatwa on its own right
A Fatwa has been issued on the system by Dr. Sheikh Hussain Hamid Hassan, a highly respected authority in Islamic finance. Chair of Dubai Islamic Bank Shariah Supervisory Committee and member of many others. Click here to view an excerpt from the Fatwa document.
2. Global Coverage
Amiri S3 extends the investable universe significantly. Unlike Index providers which provide universe size in the range of few thousands companies, Amiri S3 covers:
- 38,000 companies worldwide, representing about 95% of global market capitalisation.
- 2. Strong coverage of local stock markets in UAE, Saudi Arabia, Kuwait, Qatar and other MENA countries.
- 8,000-16,000 companies pass depending on ratios.
3. Rigour
- Fatwa issued on system by Dr. Sheikh Hussain Hamid Hassan, after careful consideration of every step in the methodology and process of screening.
- Audited periodically by an independent external auditor and issued an opinion on Shariah Compliance.
- Business activity is assessed in granular detail.
- 29 tests (in addition to 2,300 computerized balance, magnitude, correlation and alpha tests on the database) conducted to check the consistency and accuracy of the screening process.
- Amiri S3 clients are leaders in the Islamic finance industry. The most demanding Shariah requirements are met.
4. Flexibility
- Customised financial ratios allow clients to define their own set of financial ratios according to requirements of their Shariah committee. Clients can also choose to use standard AAOIFI criteria.
- Amiri has setup a process to manually standardises balance sheets to exclude Islamic finance items for companies in MENA countries.
