COMCEC
Task Forces
Task Forces

Agenda

The Task Force is expected to submit a report to the Forum's 2022 annual meeting which will then be approved by our members and submitted to the 38th Ministerial Session of the COMCEC.

Context

The related decisions taken at the 15th Meeting of the OIC Exchanges:

The Forum appreciates the efforts of the Task Force on Indices towards the completion of custody and broker accounts in relevant OIC member states for the S&P/OIC COMCEC 50 Shariah Index Fund (the Fund). The Forum mandates the Task Force on Indices to ensure successful resolution of the operational issues to enable the issuance of the Fund units for investment before the 37th Session of the COMCEC.

The Forum invites members of the Forum and OIC institutions including IsDB to find investors for the Fund and work on increasing the Fund’s assets under management. The Forum mandates the Task Force on Indices to facilitate preparation and distribution of the marketing material to promote S&P OIC/COMCEC Shariah 50 Index and the Fund.

The related decision taken at the 37th COMCEC Ministerial Session:

Welcomes the issuance of the S&P/OIC COMCEC 50 Shariah Index Fund (the Fund) and initiation of the investment, requests the Task Force on Indices to facilitate preparation and distribution of the marketing material to promote S&P OIC/COMCEC Shariah 50 Index and the Fund.

Requests Member States to actively support promotion of the S&P OIC/COMCEC Shariah 50 Index and the Fund to the investors in their respective countries through public events, press releases, and one-on-one meetings.

Coordinator

Borsa ─░stanbul

Current Status

The Task Force is in progress towards achieving its goals.

S&P/OIC COMCEC 50 Shariah Index

The S&P/OIC COMCEC 50 Shariah is designed to provide investors with a Shariah-compliant benchmark that measures the performance of leading companies from the Organization of Islamic Cooperation (OIC) member states. The website for further information is eu.spindices.com/indices/equity/sp-oic-comcec-50-shariah