@Halal July/August 2021 | Page 7

Seeks to replicate the performance of the Dow Jones Islamic Market Developed Markets Quality
July-August . 2021 | @ Halal

Foreign News

07

Wealthsimple launches new ETF

Seeks to replicate the performance of the Dow Jones Islamic Market Developed Markets Quality

THE NEO Exchange welcomed the first NEO-listed ETF by WealthSimple Inc , managed by Mackenzie Investments , providing investors with access to a diversified index of Shariahcompliant stocks . The fund began trading recently under the symbol NEO : WSHR .

With the launch , Wealthsimple taps into the emerging sector of Islamic finance . Shariah-compliant funds are a type of socially responsible investment that conforms to Shariah law ’ s requirements and the principles of the Islamic religion by excluding investments in specific sectors such as alcohol , tobacco , and gambling .
The Wealthsimple Shariah World Equity Index ETF ( WSHR ) seeks to replicate the Dow Jones Islamic Market Developed Markets Quality and Low Volatility Index performance , which primarily includes Shariah-compliant equity securities in developed markets anywhere in the world . They are characterised as having the highest combination of quality and low volatility multi-factor score .
“ We ’ re very excited to launch the Wealthsimple Shariah World Equity Index ETF on

EIAC completes first decade of international recognition

NEO ’ s innovative exchange ,” commented Ben Reeves , Chief Investment Officer of Wealthsimple .
“ Our mission is to make financial products more affordable and accessible for everyone , and we ’ re thrilled to do just that with the launch of Canada ’ s first Shariahcompliant ETF . Muslim investors in Canada will now have access to an affordable investment product that is in line with their values .”
The Wealthsimple Shariah World Equity Index ETF is NEO ’ s 100th fund listing . NEO consistently represents about 20 per cent of all volume traded in Canadian ETFs and close to 15 per cent of all trading in Canadian-listed companies .
“ Wealthsimple makes its mark on the NEO Exchange as a first-time issuer and trailblazer within the burgeoning Islamic finance space ,” said Jos Schmitt , President and CEO of NEO .
“ We applaud Wealthsimple for providing an investment product that addresses the underserviced and important Islamic community here in Canada and honoured to be their exchange of choice to bring this ETF to market . As an advocate of innovation and the Canadian ETF space in general , NEO looks forward to expanding our relationship with Wealthsimple and providing them with exceptional service and support over the years to come .”
Investors can trade units of the Wealthsimple Shariah World Equity Index ETF ( WSHR ) through their usual investment channels , including discount brokerage platforms and full-service dealers .
THE EMIRATES International Accreditation Center ( EIAC ) has moved towards becoming a global organisation ever since it obtained international recognition from international accreditation organisations ILAC , IAF , ARAC , and APAC .
EIAC had many stations and qualitative transfers in many areas of accreditation , the most important of which was its obtaining international recognition in all fields . It has also expanded into new areas within the UAE , but it has surpassed the regional level .
It recently obtained international recognition in the accreditation of certification bodies for individuals , occupational health and safety systems , and information security .
Dawoud Al Hajri , Chairman of the
EIAC Council , said : “ The name of the UAE has been associated with this achievement as the EIAC has become the first Arab and regional accreditation body to obtain these recognitions . It fulfils our commitment to society and keeps pace with the accelerating changes that have cast shadows on various aspects of life .
“ EIAC also gives accreditation to testing laboratories for the efficiency of sterilisation materials and the safety of personal protective equipment , and the inspection bodies for the efficiency of sterilisation systems and public health , as well as granting certificates to business continuity management systems .”
According to the chairman , the accreditation work provided by EIAC has become a nationally and internationally integrated quality and conformity
system , which was one of the important stations of the centre in obtaining international recognition in 2009 .
Amina Ahmed , Executive Director of EIAC , added the number of bodies approved by EIAC had reached 920 . This includes medical laboratories , testing and calibration laboratories , inspection bodies , conformity certification bodies and halal certificate-granting bodies .
“ The work of EIAC focused on achieving the pillars of the strategic plan of the emirate , including the implementation of health , safety and environment standards and the promotion of international recognition as the global capital of the Islamic economy ,” added Ahmed .
“ This has resulted in EIAC reaching the number one spot globally through the accreditation of the largest number
of conformity bodies and halal certificates granting bodies for food products and cosmetics .”
EIAC also expanded its accreditation services for halal certification companies worldwide . This included many countries such as Brazil , Ireland , Thailand , Slovenia , Japan , Australia and France .
This accreditation had a positive impact on the readiness of halal conformity for the products of these countries , and this was reflected in the ease of release procedures for goods .
In addition , others approved to join the system include Russia , Greece , Ukraine , Chile and Argentina . These actions focus on supporting the plans of the country and the emirate , the health , safety and environment system and the Islamic economy .
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