Shariah-compliant equities reach 65% of PSX market cap: SECP

According to Mettis Link News, Shariah-compliant stocks now make up 65% of the market capitalisation on the Pakistan Stock Exchange (PSX). SECP Commissioner Imtiaz Haider said 309 equity securities are classified as Shariah-compliant, with a combined market capitalisation of Rs13.2 trillion. He made the remarks at the fifth SECP Talk Series on the future of Islamic finance, which looked at both Pakistan and the global picture.

Haider also noted that Islamic mutual funds hold assets of Rs2.2 trillion, and 197 of the 389 mutual funds meet Shariah criteria. Separately, Yousef Hassan Khalawi, Secretary General of the Islamic Chamber of Commerce and Development (ICCD), described Islamic finance as a tool for wider financial inclusion and economic growth. He listed sukuk, Shariah-compliant stocks and Islamic funds among the core parts of the sector.

Khalawi added that Waqf and social finance could help meet social and development targets, while fintech is opening faster and easier access to financial services. He cautioned that financial risks need close monitoring as fintech grows, and that innovation must stay consistent with Shariah principles. He also argued that a sound regulatory framework is essential for the Islamic financial system.