The Pakistan Stock Exchange has received the prestigious Best Islamic Stock Exchange award for the third consecutive year from the Global Islamic Finance Awards (GIFA). GIFA, an internationally renowned platform dedicated to recognizing excellence in Islamic banking and finance, has been presenting these awards since 2011.
According to an official statement, these awards have been bestowed upon individuals, institutions, and government departments worldwide that have demonstrated exceptional performance in advancing Islamic banking and finance while displaying a strong commitment to social responsibility.
Farrukh H Khan, the Managing Director and CEO of the Pakistan Stock Exchange, expressed immense pride at receiving the Global Islamic Finance Award for the third consecutive year. He stated, “We are honored by GIFA for acknowledging our steadfast commitment to delivering excellence in Islamic finance products, services, and regulatory enhancements.”
Khan went on to emphasize that the Pakistan Stock Exchange serves as a robust and reliable platform for Shariah-compliant products and capital raising. With a portfolio of 251 Shariah-compliant companies listed on the PSX, accounting for over 65% of the total market capitalization, the exchange provides an excellent avenue for investors to invest in Islamic financial products. It also facilitates financial institutions in developing and introducing new products, such as Sukuks, Shariah-compliant mutual funds, modarabas, ETFs, and others, to assist corporations and the Government of Pakistan in raising capital from the capital markets.
Khan extended his gratitude to GIFA for bestowing this prestigious award upon the Pakistan Stock Exchange.