The Screening Process of Islamic Indexes: A Case of Karachi Meezan Index

  • Umar Saeed
  • Zohra Jabeen
  • Muhammad Ismail


Strong and fair screening process is one of the fundamental factors for Islamic equity indices to service in market. The Muslim investors wish to make investment in such a way that does not contradict with their religion, Islam. Hence, while making their decision towards Islamic equities, the investors confirm Islamic perspective and Sharia transparency of the Islamic indices on priority bases. The current available literature only covers the Sharia component of the whole screening process adopted by Karachi Meezan Index. The complete screening process adopted by said index has another essential component known as “Technical Filter”. This component plays same role to include or exclude equity from the Karachi Meezan Index as Sharia component plays; on behalf of technical filter we can exclude equity from Karachi Meezan Index. Reputation, performance, free float market capitalization, and impact cost are key elements of technical filter. Therefore, pure qualitative study is conducted to fill this gap by describing sequential and detailed screening process methodology through narrative views of high ranked policy makers’ employees working in Karachi Meezan Index.
How to Cite
SAEED , Umar; JABEEN , Zohra; ISMAIL , Muhammad. The Screening Process of Islamic Indexes: A Case of Karachi Meezan Index . Business & Economic Review, [S.l.], v. 14, n. 1, p. 1-16, apr. 2022. ISSN 2519-1233. Available at: <>. Date accessed: 25 mar. 2023.