Stock-market participants welcomed the Philippine Stock Exchange’s (PSE) efforts to establish a list of Shariah-compliant equities to tap Muslim investors in the country and abroad but execution challenges, like zeroing in on which firms to include, can remain a key consideration, they said.
Still, the plan is regarded with much optimism as this would provide additional breadth and depth to PSE, which remains one of the region’s smallest exchanges despite impressive gains so far this year. The Shariah-compliant list could be ready by the first half of 2013, Bloomberg News reported recently, citing Leo Quinitio, PSE head of capital-markets development division………………………………………..Full Article: Source