Pakistani Stock Exchange (PSX) has won the Global Islamic Finance Awards (GIFA) for Best Islamic Stock Exchange of 2021. GIFA is an internationally renowned platform that recognizes banking and financial excellence in the Islamic world.
Since 2011, awards have been presented to individuals, institutions and authorities around the world who have demonstrated outstanding success in advancing Islamic banking and finance and a commitment to social responsibility. GIFA is the only global Islamic Finance Awards program that covers all parts of the world and includes all institutions and individuals who have contributed to the growth and expansion of Islamic banking in accordance with the laws of Islam.
PSX has a robust platform offering Shariah-compliant products including customized Islamic indices, stocks and Shariah-compliant debt instruments. PSX has listed Mudarabah and Islamic commercial banks, as well as products such as Islamic mutual funds and ETFs.
The total capital of companies complying with Sharia law is 770 billion Rupees, which is 53% of the listed capital of all listed companies.
The Pakistani Stock Exchange offers a solid package of products for investors looking to invest in accordance with Islamic finance principles. It is also a cost-effective and efficient platform for Sharia-compliant companies to increase debt and capital through Sharia-compliant products.
PSX Chairman Dr. Shamshad said “Receiving this award demonstrates that it is PSX is excellent platform for listing and investing in Islamic capital market products. We intend to develop the PSX Islamic finance business and ensure the improvement of PSX regulatory, operational, technology and product standards by offering a wide range of Islamic products and promoting Sharia law compliance on stocks and bonds”.
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