The S&P Pan Arab index series includes stocks from listed companies in the countries of Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Tunisia and the United Arab Emirate (UAE). The underlying country indices are part of the S&P Emerging BMI and S&P Frontier BMI Indices.
In response to the needs of investors in the Middle Eastern region both local and foreign, the S&P Pan Arab indices offer multiple versions: S&P Pan Arab Investable, which includes all constituents in the eleven Middle Eastern markets covered by S&P Indices with the exception of Saudi Arabia due to its restrictions on foreign investors; and the S&P Pan Arab Composite includes Saudi Arabia and reflects the float available to GCC residents.
S&P Indices also offers the S&P Pan Arab Shariah index series, compliant with Islamic canonical law that is based on the teachings of the Koran. To ensure compliance with the laws, index constituents of S&P Pan Arab index series are screened with specific criteria and then included in the compliant index.
Index Governance and Policy
The parent index is maintained by S&P Index Committees, whose members include Standard & Poor’s economists and index analysts. Working with the Shariah Supervisory Board and Ratings Intelligence Partners, the Shariah indices follow a set of published guidelines and policies that define the transparent methodologies used to maintain the indices.
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