The Securities and Exchange Commission of Pakistan has approved five securities brokers to launch Islamic brokerage windows as part of ongoing efforts to expand the country’s Islamic financial system.
The approved firms include Insight Securities Private Limited, Optimus Capital Management Private Limited, Value Stocks and Commodities Private Limited, Intermarket Securities Limited, and Darson Securities Private Limited.
According to the SECP, the new Islamic brokerage windows will allow investors to directly invest in Shariah-compliant shares, Sukuk, and Islamic exchange-traded funds.
The regulator said the move is aimed at providing halal investment opportunities for investors seeking Islamic financial products.
The SECP stated that funds deposited in Islamic brokerage accounts will only be used for Shariah-compliant investments. Separate Islamic bank accounts and dedicated trading systems will also be maintained to ensure compliance with Islamic financial principles.
The regulator added that trading through these Islamic windows will remain restricted to Shariah-compliant companies only. The SECP said it is continuing reforms to support the growth and development of the Islamic financial sector in Pakistan.
