Zilzar-IdealRatings Halal Food Indexes

Zilzar-IdealRatings Halal Food Index Methodology


Equities are considered eligible for inclusion into the Halal Food Index Series only if they pass a series of market related guidelines related to minimum market capitalization and liquidity as well as being listed in stock exchanges belonging to the Organization of Islamic Conference countries (OIC).  Once the index eligible universe is determined the underlying constituents are screened using a set of business and financial Shariah guidelines.


The Zilzar-IdealRatings Halal Food Participation Index Series is screened using the Shariah mandate as defined by the AAOIFI (Accounting and Auditing Organization of Islamic Financial Institutions).


To be considered eligible for index inclusion, the respective companies have to pass following screens:



Member of OIC countries

Business Activity

Restaurants, Beverages – Non-alcoholic, Fishing, Farming, Food Processing, Food Distribution

Non Permissible Revenue

Has no revenue from pork, alcohol, tobacco and impermissible foods

Investment Guidelines

Set of Minimum Market Cap, Minimum Free Float, Market Cap and Trading Volume restrictions

Shariah Compliance

Equities have to be compliant according to respective Shariah mandate


Summary facts of the index series:

Index Calculation: Price Index

Weighting: Free Float Market Capitalization

Base Date: 1st of January, 2010

Base Value: 1,000

Rebalancing: Quarterly basis



For further information regarding Zilzar-IdealRatings Indexes contact: info@idealratings.com

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