KARACHI – The Pakistan Inventory Alternate (PSX) Tuesday achieved the Finest Islamic Inventory Alternate Award 2021 by International Islamic Finance Awards (GIFA) for the primary time.
GIFA is a world platform that recognises excellent work within the area of Islamic banking and finance.
“PSX has a robust platform for providing Shariah-compliant products including dedicated Islamic indices, Shariah-compliant equities and debt instruments,” the assertion learn.
PSX has listed Modarabas and Islamic business banks in addition to merchandise comparable to Islamic Mutual Funds and an ETF.
PSX Chairperson Dr Shamshad Akhtar whereas talking on the event stated, “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.”
“Islamic equity and debt products form a large portion of the demand in international capital markets,” she stated, including that the inventory market successful this accolade exhibits that it’s a premium platform for itemizing and investing of Islamic capital market merchandise.
“We intend to build on Islamic finance business at PSX, and ensure furthering PSX’s regulatory, operational, technological standards and products in providing diversified Islamic products and facilitating Shariah-compliant equity and debt listings.”
PSX CEO Farrukh H Khan added: “This award is a recognition not just for Pakistan Stock Exchange’s standing in the world of Islamic finance but for Pakistan as well.”
“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.