Shariah-compliant PSX stocks get dedicated trading counter
The Pakistan Stock Exchange has opened a dedicated counter for Shariah-compliant PSX stocks, government and corporate Sukuk, after SECP approved new trading rules.
PSX opened a Shariah-compliant trading counter on 29 October after SECP approved the Shariah Trading Counter Regulations.
Thirty-nine brokers joined through Islamic windows; two houses are licensed as fully Shariah-compliant brokers.
Trading is limited to Shariah-compliant equities, government Ijarah Sukuk and corporate Sukuk; short selling, derivatives and interest-based leverage such as MTS are blocked.
Murabaha Share Financing (MSF) is offered as the Islamic alternative to conventional share financing.
A Shariah Portal on the PSX Data Portal lists eligible stocks and Sukuk; investor accounts at PSX have crossed 650,000.