Sharia Screening Process: A Comparison of Pakistan and Malaysia

This paper aims to examine the Sharia screening methodologies used by Securities Commission of Malaysia and KSE Meezan Index (KMI-30 of Pakistan). The two set of screens used by both Islamic indices are business screens and financial screens. The existence of certain similarities and differences in screening methodology is evident. The findings also implicate that there is a dire need for standardisation of said process which will be beneficial in many ways and will surely aid in the development of ICM worldwide.