The purpose of this study is to explain the justification behind the current Shariah screening methodology assessments used by KLSI, which differs from other major Shariah screening methodology around the world. Besides, this study is also attempts to investigate on the intention to entitle...

The purpose of Shariah financial screening indices is to exclude companies with unacceptable levels of conventional debt, liquidity, interest-based investment and/or impure income. In Islamic perspective, a company must not borrow on the basis of interest rate, nor invest in debt-bearing...