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Pakistan Stock Exchange wins Best Islamic Stock Exchange Award 2021

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Pakistan Stock Exchange. — Reuters/File
  • This award is introduced to PSX for the primary time within the 10-year historical past of the International Islamic Finance Awards.
  • “We intend to construct on Islamic finance enterprise at PSX,” says Shamshad Akhtar.
  • Farrukh Khan says at the moment, Islamic monetary merchandise are the quickest rising in Pakistan.

KARACHI: The Pakistan Stock Exchange (PSX) has bagged the Best Islamic Stock Exchange Award 2021 by International Islamic Finance Awards (GIFA).

In line with an announcement issued on Tuesday, GIFA is a world platform that recognises excellence in banking and finance within the Islamic world.

“PSX has a strong platform for offering Shariah-compliant merchandise together with devoted Islamic indices, Shariah-compliant equities and debt devices,” the assertion learn.

The inventory market has listed Modarabas and Islamic business banks in addition to merchandise corresponding to Islamic Mutual Funds and an ETF.

It boasts of the full listed capital of Shariah-compliant firms of Rs770 Billion as of June 30, 2021, making up 53% of the full listed capital of all listed firms.

Talking on the event, PSX Chairperson Dr Shamshad Akhtar stated: “It’s an immense achievement for Pakistan Stock Exchange to have gained the Best Islamic Stock Exchange Award 2021 introduced by International Islamic Finance Awards.”

“Islamic fairness and debt merchandise type a big portion of the demand in worldwide capital markets,” she stated, including that the inventory market successful this accolade reveals that it’s a premium platform for itemizing and investing of Islamic capital market merchandise.

Sharing plans for the inventory market: “We intend to construct on Islamic finance enterprise at PSX, and guarantee furthering PSX’s regulatory, operational, technological requirements and merchandise in offering diversified Islamic merchandise and facilitating Shariah-compliant fairness and debt listings.”

Endorsing her views, PSX Managing Director Farrukh H Khan added: “This award is a recognition not only for Pakistan Stock Exchange’s standing on this planet of Islamic finance however for Pakistan as nicely.”

“Each PSX and Pakistan have been working for a few years to introduce Islamic modes of financing, in each the banking and capital markets. This has stuffed an actual want of the monetary sector prospects,” he maintained.

The managing director was of the view that at the moment, Islamic monetary merchandise are the quickest rising in Pakistan.

This award has been introduced to the Pakistan Stock Exchange for the primary time within the 10-year historical past of GIFA, and therefore, is taken into account as a world vote of confidence in PSX as a strong and energetic bourse, facilitating all sorts of firms and buyers – whether or not Shariah-compliant or in any other case.

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