HOBOKEN, NJ, 24 July 2005 — Dinar Standard(tm), a business strategy e-magazine, yesterday released its 2005 Stock Market Analysis Brief of the Muslim World, covering 27 active Stock Markets from the 57 member countries of the OIC (Organization of Islamic Conference).
The report shows the top 10 fastest growing stock markets of the OIC member countries averaged market capitalization growth of 99.87% between 2003-2004. Comparatively, the top 10 global stock markets, which include the NYSE, Tokyo, and the London Stock Markets, averaged market cap growth of 19.79% during the same period.
The Saudi Tadawul Stock Market (with 73 listed companies) led the markets of the Muslim majority states in terms of market capitalization ($292 billion at the end of 2004). Its leading capitalized companies were SABIC (the petrochemical global giant), Saudi Telecom, and Saudi Electric.
Among the largest markets, the UAE-based stock markets of the Abu Dhabi Securities Market and the Dubai Financial Market showed the most impressive growth. Dubai Financial Market’s DFM Index posted the largest Index growth increase of 175% in 2004 to 439 from the year before.
Its market capitalization grew 146% to $36 billion compared to the year before. Meanwhile, the Abu Dhabi Securities Market boosted its market capitalization by 83% to $55.48 billion in 2004 compared to the year before with its broad market index, the ADSM posting a 75% increase in the same period to 3070.88.
This growth needs to be put in perspective of the nascent state of many of these markets. Total market capitalization of the 27 markets from the OIC member countries stood at $1,151 billion at the end of 2004 which is almost the same size as that of the German Deutsche Bourse’s domestic market capitalization, which at the end of 2004 stood at $1,195 billion. The world’s largest stock market’s (the NYSE) domestic market capitalization was $12,708 billion in 2004.
The recent surge in these markets has been impressive. “The buzz around the growth of many of the Muslim world’s stock markets, such as the Karachi Stock Exchange, the Dubai Financial Market, the Tadawul, the Surabaya and others has certainly been noticeable and bodes well for the future of their domestic companies”, states Rafi-uddin Shikoh, editor of Dinar Standard(tm). The Stock Market Analysis Brief of the Muslim World provides a complete and comparative factual picture of these developing markets.
The complete 2005 Stock Market Analysis Brief of the Muslim World can be viewed at Dinar Standard(tm) website; http://www.dinarstandard.com .