ISRA-Bloomberg Sharīʿah stock screening and income cleansing methodologies: a conceptual paper
The purpose of this paper is to explain and critically analyse the Shariah screening criteria and cleansing process for income generated from stocks with a special focus on a newly developed ISRA-Bloomberg methodology. The paper focuses on the methodology of ISRA-Bloomberg in terms of Shariah screening of stocks and the income cleansing process. To achieve this objective, this paper adopts a descriptive approach. Findings: The methodology of ISRA-Bloomberg is unique in terms of its criterion for screening stocks, the cleansing process and coverage of the universe of stocks.