Global Political and Economic Organizations News via PUBT: ITS launches first ever first Shariah compliant index fund in Central Asia and the Caucasus

The international trading platform ITS launched trading of the first Shariah-compliant index ETF (exchange-traded fund) in Central Asia and the Caucasus, ITS Shariah, under the ticker ITSS, on 14 January 2025.

 

During the initial offering, investors purchased 500,000 shares of the fund at a price of $10, for a total of $5 million. The ETF's primary listing took place the previous day on the AIX exchange at the Astana International Financial Centre (AIFC).

 

Each ITSS share represents an equal stake in the Shariah-compliant ITSS ETF, which is registered as a separate legal entity at the AIFC pursuant to the principles of Islamic finance.

 

The ITSS ETF's investment strategy is to replicate the holdings and performance of the ITS Shariah index as closely as possible. Its portfolio consists of 30 of the largest global companies whose operations and finances meet the criteria set by the Accounting and Auditing Organization for Islamic Financial Institutions.

 

The companies included in the ITSS ETF are selected and monitored on a daily basis by an independent and certified company, Sahih Invest.

 

The ITSS ETF is the second index fund in Central Asia established under the jurisdiction of the AIFC and traded on the ITS platform and the AIX exchange.

 

The fund's holdings, real-time performance, methodology and other documents are available on the ITS website.