This award is presented to PSX for the first time in the 10-year history of the Global Islamic Finance Awards
KARACHI: The Pakistan Stock Exchange (PSX) has bagged the Best Islamic Stock Exchange Award 2021 by Global Islamic Finance Awards (GIFA).
According to a recent statement, GIFA is an international platform that recognizes excellence in banking and finance in the Islamic world.
“PSX has a robust platform for providing Shariah-compliant products including dedicated Islamic indices, Shariah-compliant equities, and debt instruments,” the statement read.
The stock market has listed Modarabas and Islamic commercial banks and products such as Islamic Mutual Funds and an ETF.
It boasts of the total listed capital of Shariah-compliant companies of Rs770 Billion as of June 30, 2021, making up 53% of the total listed capital of all listed companies.
Speaking on the occasion, PSX Chairperson Dr Shamshad Akhtar said: “It is an immense achievement for Pakistan Stock Exchange to have won the Best Islamic Stock Exchange Award 2021 presented by Global Islamic Finance Awards.”
“Both PSX and Pakistan have been working for many years to introduce Islamic modes of financing in both the banking and capital markets. This has filled a real need of the financial sector customers,” he maintained.
This award has been presented to the Pakistan Stock Exchange for the first time in the 10-year history of GIFA, and hence, is considered as an international vote of confidence in PSX as a robust and active bourse, facilitating all types of companies and investors whether Shariah-compliant or otherwise.