Pakistan Stock Exchange has made a name for itself globally, especially in the Islamic world, with the Global Islamic Finance Award (GIFA) awarding PSX the Best Islamic Stock Exchange Award for 2021.
GIFA is the global platform for banking and finance in the Islamic world, which started offering awards in 2011 to promote Islamic banking and finance.
In addition, GIFA is the only global Islamic finance award program, which has a worldwide reputation, with steps taken to develop Islamic banking and finance with sharia authenticity.
The Pakistan Stock Exchange provides an excellent platform for Shariah-compliant products, including a dedicated Islamic index, Shariah-compliant equity, and debt instruments. In addition, PSX has listed Mudaraba and Islamic Commercial Banks and products such as Islamic Mutual Funds and ETFs.
According to a PSX spokesperson, Shariah-compliant companies have a total listed capital of Rs 770 billion, which is 53% of the total listed capital of all listed companies.
The Pakistan Stock Exchange offers a robust product suite for investors who want to invest per Islamic investment principles. It is a low-cost and efficient platform for Shariah-compliant companies to increase debt and equity capital by using products by Shariah principles.
Congratulating on receiving the award, PSX Chairperson Dr. Shamshad Akhtar said, “This is a great achievement for the Pakistan Stock Exchange, the continuity of which will be maintained in the future.”
