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L’INVESTISSEMENT EN BOURSE : LES NORMES DE LA FINANCE ISLAMIQUE APPLIQUEES AUX VALEURS DE LA PLACE BOURSIERE DE PARIS (CAC 40 et SBF 250)

Author

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  • EL KHAMLICHI, ABDELBARI

    (Doctorant à l’Université d’Auvergne ; Clermont Ferrand-France)

Abstract

En finance islamique, l’investissement en bourse est autorisé sous certaines conditions. Le choix des valeurs boursières dans lesquelles il serait possible d’investir conformément à la Charia se fait selon des critères financiers et extra financiers. Ainsi, il convient de s’intéresser aux secteurs d’activité de l’entreprise ainsi qu’à sa structure financière. Dans la pratique, il revient à un comité Charia, composé de jurisconsultes spécialistes de la loi islamique, de vérifier périodiquement la conformité des titres boursiers aux normes de la finance islamique. Les premiers indices conformes à la loi islamique ont été lancés depuis une décennie sur plusieurs marchés notamment celui du Royaume Uni et des Etats Unis. Si les banques conventionnelles ont été les premières à exploiter ce créneau en proposant à leurs clients des possibilités d’investissement conformes à leurs valeurs éthiques, le modèle a été copié par des agences de notation et par d’autres places financières. Cet article revoit les normes utilisées par quelques places boursières disposant d’indices boursiers islamiques et applique les critères du Dow Jones Islamic Market Index (DJIMI) aux valeurs de la place financière de Paris (indices CAC 40 et SBF 250).

Suggested Citation

  • El Khamlichi, Abdelbari, 2010. "L’INVESTISSEMENT EN BOURSE : LES NORMES DE LA FINANCE ISLAMIQUE APPLIQUEES AUX VALEURS DE LA PLACE BOURSIERE DE PARIS (CAC 40 et SBF 250)," Etudes en Economie Islamique, The Islamic Research and Training Institute (IRTI), vol. 4, pages 39-63.
    • Handle: RePEc:ris:etecis:0002
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    References listed on IDEAS

    as
    1. El-Gamal,Mahmoud A., 2009. "Islamic Finance," Cambridge Books, Cambridge University Press, number 9780521741262, October.
    2. Muhammad Anwar, 1995. "An Islamic Perspective on Capital Markets and "Islamic" Securities in Malaysia," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 34(4), pages 865-878.
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