PSX issues updated list of Shariah-compliant listed companies

The Pakistan Stock Exchange (PSX) has issued its latest list of listed companies identified as Shariah-compliant, reminding them of mandatory disclosure requirements under the PSX Regulations, according to a notice issued on Monday. 

The notice, addressed to all relevant listed companies, follows earlier PSX notices, PSX/N-1283 dated November 27, 2025, PSX/N-1419 dated December 24, 2025, and PSX/N-113 dated January 23, 2026, which had notified mandatory Shariah disclosure requirements under Clauses 5.6.9A and 5A.13(e)(ii) of the PSX Regulations. These apply to listed companies meeting the criteria specified in Clause VII of Part I of Schedule IV of the Companies Act, 2017.

The updated list is also available on the PSX website. Companies identified as Shariah-compliant under the list are required to ensure meticulous compliance with the Shariah disclosure requirements in their half-year and annual financial statements for the periods ended June 30, 2026 and September 30, 2026, as applicable.

PSX reiterated that listed companies must adhere to the clarification issued via PSX Notice No. PSX/N-435, dated April 17, 2026, to maintain uniformity, comparability, and consistency in disclosures for effective monitoring and compliance.

The notice warned that any failure by a listed company to comply with the mandatory Shariah reporting obligations will attract a fine of Rs100,000, along with an additional fine of Rs2,000 for every day the non-compliance continues.

The list includes companies such as Oil & Gas Development Company Limited (OGDC), Pakistan Petroleum Limited (PPL), Lucky Cement Limited, Meezan Bank Limited, Mari Energies Limited, Systems Limited, and Pakistan State Oil Company Limited (PSO) among those classified as Shariah-compliant. 

Companies identified as non-compliant include several conventional banks and insurance firms, including Habib Bank Limited (HBL), United Bank Limited (UBL), MCB Bank Limited, National Bank of Pakistan (NBP), Bank Alfalah Limited, and EFU General Insurance Limited.