KMI 30 Index

Last updated

KMI 30 Index
Foundation2 September 2008 (2008-09-02)
OperatorKarachi Stock Exchange Limited
Exchanges Karachi Stock Exchange
Constituents30
Weighting method Capitalization-weighted index

KMI 30 Index is a stock market index on the Pakistan Stock Exchange in Pakistan of thirty companies that have been screened for Islamic Shariah criteria. The index was introduced on 2 September 2008, [1] and the base period for this Islamic index is 30 June 2008. It was created as a joint effort by the Karachi Stock Exchange (now known as Pakistan Stock Exchange) and Al-Meezan Investment Bank (now known as Meezan Bank Limited). [2]

Contents

The index is calculated using free float market capitalization. At any point in time, the level of the index reflects the free float market value of selected Shariah-compliant shares in comparison with the base period. KMI-30 is recomposed semi-annually. [3]

Selection criteria

For any stock to be "Shariah compliant" it must meet all of the following six criteria: [4]

  1. Core business of the company must be halal
  2. Interest-bearing debt to total assets should be less than 37%
  3. Illiquid assets to total assets should be greater than 25%
  4. Net liquid assets per share should be less than the market share price
  5. Non-compliant investments to total assets should be less than 33%
  6. Non-compliant income to total revenue should be less than 5%

Constituents

Current (as of 31 December 2024) [5]

Former

See also

References

  1. ↑ "KSE - Meezan Index to be launched today". Business Recorder . 2 September 2008. Retrieved 24 September 2025.
  2. ↑ Shahid, Ariba (22 August 2021). "No, the stock market is not an accurate indicator of the economy". Profit by Pakistan Today. Retrieved 24 September 2025.
  3. ↑ "brochure-kmi30-index.pdf" (PDF). Pakistan Stock Exchange . Retrieved 24 September 2025.
  4. ↑ "Shariah Screening Criteria | Meezan Bank". Meezan Bank . Retrieved 24 September 2025.
  5. ↑ "Combined-KMI30-Notice-and-List-Dec-2024-revised.pdf" (PDF). Pakistan Stock Exchange . 23 May 2025. Retrieved 24 September 2025.
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