Overview
- SECP approved five brokerage houses to run Islamic windows that offer dedicated Shariah-compliant trading services.
- Each firm must create a separate Islamic unit with its own systems and bank accounts at Islamic banks to keep funds from mixing with conventional business.
- Client money can be invested only in Shariah-screened shares, Sukuk (Islamic bonds), and Islamic ETFs, including companies in the PSX-KMI All Share Islamic Index.
- The regulator said it granted approvals after reviewing business models, governance controls, compliance setups, and Shariah advisory arrangements.
- Officials described the windows as aligned with international practice and aimed at drawing more retail and institutional investors to Pakistan’s Islamic capital market.