Analisis kriteria penyahsenaraian sekuriti patuh syariah Bursa Malaysia 2020-2021

Abstract

The Shariah Advisory Council (SAC) of the Securities Commission Malaysia (SCM) is the authoritative body to screen Shariah-compliant securities listed on the Malaysian Stock Exchange (Bursa Malaysia). Based on two Shariah indicators, namely business and financial activities, the list of Shariah-compliant securities together with the list of delisted securities are issued twice a year. However, this report does not detail the Shariahindicators that the relevant securities fail to comply with. In this regard, this study aims to analyze descriptively, Shariahindicators that failed to comply with the delisted securities in 2020and 2021 using globalShariahfilters. However, this report does not detail the Shariahindicators that the relevant securities fail to comply with. In this regard, this study aims to analyze descriptively, the Shariahindicators that failed to be complied with by the delisted securities in 2020 and 2021 using the Global ShariahScreener. The resultof the analysis found that 44 out of the 65 securities were suitable to be analyzed. The majority of shariah-delisted securities were due to non-compliance with the financial Shariahindicators. As to these findings, the non-compliance indicators should be disclosed to investors. Thus, the investors can use this new information rationally for disposal actions as proposed by the SCM