World'Vest Base Builds Sharia Index for Egyptian Islamic Finance Association

The index is calculated applying standards issued by Bahrain-based international body the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and approved by EIFA's sharia council. For instance, the standards screen out companies engaged in activities prohibited under Islamic law─such as breweries, distilleries or other companies active in the alcohol industry─and require that businesses do not derive more than 5 percent of their total revenues from various non