Karachi to hold second Islamic capital market conference on Dec 12

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) announced the Second International Islamic Capital Market Conference & Expo 2024 during a press briefing held at its Karachi office on Tuesday.

The event, themed ‘From Tech Transformation to Realising Sustainability: Building an Inclusive Islamic Capital Market’, will take place on December 12, at a local hotel in Karachi. SECP Chairman Akif Saeed, alongside Commissioner Mujtaba Ahmed Lodhi and Executive Director Khalida Habib, highlighted the significance of the conference in advancing Islamic finance. The SECP’s Head of Islamic Finance Tariq Naseem noted that Pakistan’s Islamic capital markets are thriving, with 55 per cent of market capitalisation, 65 per cent of voluntary pension fund assets, and 95 per cent of REITs being Sharia-compliant. He also announced plans for an independent assessment of compliance with the IFSB’s principles, aiming to elevate Pakistan’s global standing in Islamic finance.

The conference, co-hosted by AAOIFI and IsDBI, will feature over 20 international experts from Bahrain, Saudi Arabia, Malaysia, Turkiye and the UK, among others. A pre-conference workshop, a gong ceremony at the Pakistan Stock Exchange, and an Islamic Finance Exhibition displaying 38 leading institutions will complement the main event. Discussions will focus on challenges and opportunities in creating sustainable and inclusive Islamic capital markets.