The Pakistan Stock Exchange (PSX) has launched a dedicated trading counter for Shariah-compliant investments, giving investors a separate system to trade shares and other securities that follow Islamic principles.
The launch took place on October 29, 2026, after the Securities and Exchange Commission of Pakistan (SECP) approved the Shariah Trading Counter Regulations.
The new facility is open to individual and institutional investors. So far, 39 brokerage firms have joined through their Islamic windows, while two other brokers are licensed to operate exclusively as Shariah-compliant firms.
Trading through the counter is restricted to Shariah-compliant shares, government Ijarah Sukuk and corporate Sukuk. Interest-based financing products, short selling and derivatives trading are not allowed.
Investors can instead use Murabaha Share Financing, a financing option designed to comply with Islamic principles. They can also sell securities that do not meet Shariah requirements to bring their investment portfolios into compliance.
PSX has introduced a separate Shariah portal on its Data Portal, allowing investors to check which listed shares and Sukuk qualify for Islamic investment.
Investors can open trading accounts, including Sahulat Accounts, by completing a Shariah-compliant customer relationship and risk disclosure document.
PSX Managing Director and CEO Farrukh H. Sabzwari said the new facility would improve access to Islamic investment products and strengthen investor confidence through dedicated compliance controls.
He added that the exchange’s investor accounts had crossed 650,000, with Millennials and Gen Z accounting for a significant share of new participation. The initiative is expected to attract more investors from Pakistan’s predominantly Muslim population.
SECP Commissioner Imtiaz Haider said the facility could expand participation in the stock market and create new opportunities for investors and brokerage firms.
The regulator is also considering further steps to develop Islamic capital markets, including expanding digital retail Sukuk and introducing Shariah-compliant instruments for liquidity and risk management.
