Pakistan

PSX wins best Islamic stock exchange award

PSX award

Pakistan Stock Exchange (PSX) has won the award of the best Islamic stock exchange by Global Islamic Finance Awards (GIFA) for the year 2021. 

Dr. Shamshad Akhtar, the Chairman of Pakistan Stock Exchange said on the eve of winning the Best Islamic Stock Exchange Award 2021 GIFA, “It is definitely an immense achievement for Pakistan Stock Exchange to have won the Best Islamic Stock Exchange Award 2021 presented by Global Islamic Finance Award. Islamic equity and debt products form a large portion of demand in the international capital market.”

Read more: SBP declared best central bank for promoting Islamic finance

“PSX’s winning this accolade shows that it is a premium platform for listing and investing of Islamic capital market products. The winning of this award endorses that PSX is heading in the direction in terms of facilities and providing Islamic capital market products and offerings.” 

He added, “We intend to build on Islamic business at PSX and ensure furthering PSX’s regulatory, operational, technological standards and products in providing diversified Islamic products and facilitating Shariah-compliant equity and debt listing.”  

GIFA is a highly esteemed organization that provides Shariah-compliant products including Islamic indices, Shariah-compliant equities, and debt instruments. It is the only platform in the world that focuses on the institutions and individuals who perform extremely well in the field of Islamic banking and finance with Shariah authenticity.  

Pakistan Stock Exchange has listed Modarbas and Islamic Commercial Banks and products like Islamic Funds and TEF.  

Farrukh H. Khan, the Managing Director of Pakistan Stock Exchange commented, “PSX is truly honored and proud to win the Best Islamic Stock Exchange award 2021 under the auspices of the Global Islamic Finance Award. This award is in fact the recognition not just of Pakistan Stock Exchange’s standing in the world of Islamic finance but of Pakistan as well.”  

In an Islamic country like Pakistan, the investors who intend to invest according to the teachings and principles of Islam, PSX provides a strong platform in this regard. It is an efficient forum for Sahiah compliant companies to raise debt and equity capital, utilizing Shariah compliant products.  

Chairman, SECP, Aamir Khan has also felicitated PSX for its great achievements. He said, “SECP strongly supports PSX’s continued efforts to serve a wider client base and meeting the needs of Shariah conscious issuers and investors.” 

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