Kazakhstan Newsline: Halal ETF gets listed on Astana International Exchange

The securities of the Islamic exchange-traded fund (ITS Shariah ETF Fund OEIC) are included in the official list of the Astana Stock Exchange (AIX). This was reported by the trading platform. The ETF is based on the ITS Shariah Index.

 

The halal ETF is managed by IPS Capital. The auction will begin on January 14, the press service of ITS told Kursiva. In mid-December, ITS Managing director Alexander Diakovsky talked about plans to launch this product in January. According to him, the starting price will be $10, and the ETF will include 30 securities. Among them are shares of global pharmaceutical and oil companies. All of them have received approval from Islamic consultants.

 

The exchange-traded fund was registered in mid-November. It became the second largest after an ETF based on the ITS World index. IPS Capital is owned by former Managing Director of the UAPF Nurlan Ashimov. The company called itself the first in the jurisdiction of the AIFC, which specializes in ETFs. She develops, launches, and manages new funds.

 

ITS Shariah Index was launched in mid-2023. On the evening of January 10, its value was 1,234.99 points. It grew by 0.04% during the session. After the launch of the index, there was a significant demand for Islamic instruments from investors from Central Asia and Transcaucasia, representatives of the exchange said.

 

ITS is registered with the AIFC and has been operating since 2023. It calls itself a multilateral trading platform (MTF). All the exchange's instruments are initially hosted in other jurisdictions, and there are no IPOs on the site. At the same time, brokers provide access to foreign initial public offerings on major global platforms, including NYSE, NASDAQ, LSE, Xetra, Euronext and HKEX.

 

Source: Kazakhstan Newsline