ISLAMABAD: The Se­­c­urities and Exchange Com­­mission of Pakistan (SECP) has successfully developed a dedicated Shariah-com­pliant brokerage segment in the capital market.

Approximately 33 brok­erage houses operate dedicated Shariah-compliant windows, collectively representing around 52pc of total traded volume at the Pakistan Stock Exchange.

In addition, two other dedicated brokers are offering a complete range of Islamic brokerage services. Under the dedicated framework, Islamic brokerage services will operate with clear segregation of client funds and defined Shariah governance requirements.

The framework enables investors to directly access Shariah-compliant shares, Sukuk, and Islamic Exch­ange-Traded Funds (ETFs) through dedicated Islamic brokerage windows. Inves­tor funds will be mainta­i­ned through Islamic banking channels, while tradi­­ng will be restricted to se­­­­c­urities screened and appr­­oved as Shariah-comp­lia­­nt. Islamic brokers and windows will not undertake interest-based financing or non-Shariah-compliant leveraged or speculative transactions.

The initiative expands investment opportunities for investo­rs seeking Riba-free options. Currently, 308 of 535 list­­ed securities are Shariah-co­mpliant, representing around 65pc of PSX’s market capitalisation, reflecting the growing demand and significant potential for Riba-free investment.

Published in Dawn, August 16th, 2026