Islamic finance sessions held

KARACHI: The Securities and Exchange Commission of Pakistan (SECP), the Pakistan Stock Exchange (PSX) and the IBA Centre for Excellence in Islamic Finance (IBA-CEIF) held two sessions to raise awareness about the Islamic capital market among senior management, finance professionals and auditors.

The first session focused on the convergence of conventional equities into Islamic and the opportunities it can create for Pakistan's stock market. SECP Commissioner Mujtaba Ahmad Lodhi said that joint efforts were needed to create a robust, transparent and innovative ecosystem that attracts both domestic and international investors.

PSX CEO Farrukh H. Khan praised SECP and IBA-CEIF for their collaborative efforts and pledged to expand Islamic finance in the stock market through concerted efforts.

The second session focused on the Shariah disclosure requirements under the Companies Act, 2017 for listed companies. The session aimed to raise awareness among CFOs, senior finance managers and auditors about the obligations of listed companies under the Fourth Schedule of the Act.

The sessions also featured lectures and presentations by experts from SECP, IBA-CEIF and the Shariah Advisory Committee of SECP on various aspects of Islamic finance and Shariah considerations for the capital market institutions.