Design, qualification andShariahgovernance of stock screening methodologies in selected Gulf Cooperation Council (GCC) countries in comparison with the United States

Umayal Kasi and Junaina Muhammad

Qualitative Research in Financial Markets, 2018, vol. 10, issue 2, 189-209

Abstract: Purpose - This paper aims to compare and analyse the aspects ofShariahscreening methodologies within the selected Gulf Cooperation Council (GCC) countries as well as comparing the methodologies with the USA, and to examine howShariahscreening methodologies affect financing and investing activities of a firm. Design/methodology/approach - Shariahscreening methodologies within the selected GCC countries and between the GCC countries and the USA are compared on the basis of the data collected from secondary sources. Findings - Design, qualification andShariahgovernance set theShariahscreening methodologies within the GCC countries apart. Feasibility, duration, economic viability and funds required differentiate theseShariahscreening methodologies between the GCC countries and the USA.Shariahscreening methodologies implied in the USA is more stringent than in the GCC countries. Research limitations/implications - The suggestions in this study include using a longer research timeline, examining many more number of countries’Shariahscreening methodologies and exploring other types ofShariahscreening methodologies. Practical implications - The possibility of generalising the implementation of strict and uniformShariahscreening methodologies across all the country-specificShariahindices amongst Muslim nations, globally, is likely to benefit all the Muslim countries, by strengthening the understanding, interaction and economic co-operation amongst these countries. Social implications - People’s needs can be tended to ifMaqasid Al-Shariah(objectives ofShariah) is achieved through flexibility, dynamism and creativity within the social policy. Originality/value - Aspects ofShariahscreening methodologies are compared and contrasted within the selected GCC countries as well as between the GCC countries and the United States and the role ofShariahscreening methodologies is examined in order to determine the extent of what isShariah-Compliant and what is Non-ShariahCompliant for a firm.

Keywords: United States; Financing; Shariah; Investing; Gulf Cooperation Council (GCC) countries; Screening methodologies (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:qrfmpp:qrfm-04-2017-0039

DOI: 10.1108/QRFM-04-2017-0039

Access Statistics for this article

Qualitative Research in Financial Markets is currently edited by Prof Bruce Burton

More articles in Qualitative Research in Financial Markets from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().