SS 27 - Индексы

The purpose of this standard is to present basic information about In- dices with special emphasis on their nature, functions, Shari’ah status of their various applications, and to what extent Islamic financial institutions (Institution/Institutions) may apply them. The word (Institution/Institutions) is used here to refer, in short, to Islamic financial institutions including Islamic Banks.

Scope of the Standard

This Standard covers definition of Indices, methods of their calculation, their main types, their various forms of applications, and the Shari’ah status of each of these forms. The Standard also sets out the Shari’ah rulings that govern Indices. 2. Definition and Main Applications of the Index