The Pakistan Stock Exchange (PSX) has achieved a significant milestone by winning the prestigious Best Islamic Stock Exchange Award in 2023 at the Global Islamic Finance Awards for the third consecutive year. This recognition is a testament to PSX’s commitment to Islamic financial products, services, and regulatory improvements, according to Farrukh H Khan, the Managing Director and CEO of PSX.
The Global Islamic Finance Awards (GIFA) is an internationally renowned platform that acknowledges excellence in the field of banking and finance within the Islamic world. Khan expressed his gratitude to GIFA for bestowing this honor upon the Pakistan Stock Exchange.
PSX has established itself as a dynamic and thriving platform for Shariah-compliant financial products and capital-raising activities. With the listing of 251 Shariah-compliant companies on the PSX, representing more than 65% of the total market capitalization, the exchange offers investors an avenue to invest in Islamic financial instruments and facilitates the development of new financial products for financial institutions. This recognition underscores PSX’s role as a leading platform for these endeavors.
Khan also acknowledged that achieving this prestigious award was made possible through the invaluable support and guidance of the Securities and Exchange Commission of Pakistan (SECP), as well as the dedicated efforts of the PSX board and management team.