Pakistan Stock Exchange (PSX) has been awarded the best Islamic stock exchange award by Global Islamic Finance Awards (GIFA) for the year 2021, a significant development both on a global level and the Islamic business world.
PSX has a robust platform for providing Shariah-compliant products including dedicated Islamic indices, equities and debt instruments.
GIFA is an internationally respected platform recognising excellence in banking and finance in the Islamic world. Since 2011, the awards have been presented to individuals, institutions and government departments globally who have shown outstanding performance in promoting Islamic banking and finance and in terms of commitment to social responsibility.
GIFA is the only global Islamic finance awards programme covering all parts of the world and includes all institutions and individuals who have contributed to growth and expansion of Islamic banking and finance with Sharia authenticity.
Speaking at the occasion, PSX Chairperson Dr Shamshad Akhtar stated it was definitely an immense achievement for PSX to have won the award. “Islamic equity and debt products form a large portion of the demand in international capital markets. PSX’s winning this accolade shows that it is a premium platform for listing and investing of Islamic capital market products,” she remarked.
She added that the winning of this award endorses that PSX is heading in the right direction in terms of facilitating and providing Islamic capital market products and offerings. “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”.