The Pakistan Stock Exchange (PSX) has been awarded the ‘Best Islamic Bourse’ award by the Global Islamic Finance Awards (GIFA) for the second consecutive year. This is a testament to the PSX’s commitment to developing and promoting the Islamic capital market in Pakistan.
The GIFA awards are recognized as the most prestigious awards in the Islamic finance industry. The awards are judged by a panel of experts from around the world and are based on a number of factors, including innovation, performance, and market share.
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The Pakistan Stock Exchange (PSX) has been a pioneer in the development of the Islamic capital market in Pakistan. In 2005, the PSX launched the PSX Shariah Index, which is the first and only Shariah-compliant index in Pakistan. The PSX has also listed a number of Islamic funds and ETFs, and has introduced a number of initiatives to promote the Islamic capital market, such as the PSX Islamic Capital Market Forum.
The Pakistan Stock Exchange (PSX) recognition as the ‘Best Islamic Bourse’ is a significant achievement and is a testament to the PSX’s commitment to developing and promoting the Islamic capital market in Pakistan. This award is also a recognition of the PSX’s strong performance in recent years.
In 2022, the Pakistan Stock Exchange (PSX) was one of the best performing stock exchanges in the world, with the KSE-100 index gaining over 25%. The PSX has also been one of the most active stock exchanges in the world in recent years, with trading volumes increasing significantly.
The PSX’s recognition as the ‘Best Islamic Bourse’ is a positive development for the Islamic capital market in Pakistan. This award is likely to attract more investors to the Pakistani market and help to further develop the Islamic capital market.
Here are some of the ways in which the Pakistan Stock Exchange (PSX) is promoting the Islamic capital market in Pakistan:
- PSX Shariah Index: The PSX Shariah Index is the first and only Shariah-compliant index in Pakistan. The index is designed to track the performance of the top 100 Shariah-compliant companies listed on the PSX.
- Islamic funds and ETFs: The PSX has listed a number of Islamic funds and ETFs. These funds and ETFs invest in Shariah-compliant companies and are designed to meet the needs of Islamic investors.
- PSX Islamic Capital Market Forum: The PSX Islamic Capital Market Forum is a platform for Islamic finance professionals to share ideas and best practices. The forum also organizes events and workshops to promote the Islamic capital market.
- PSX Islamic Finance Training Program: The PSX Islamic Finance Training Program is a program designed to train professionals in the Islamic capital market. The program covers a range of topics, including Shariah law, Islamic finance products and services, and Islamic capital market regulations.
The Pakistan Stock Exchange (PSX) commitment to developing and promoting the Islamic capital market is a positive development for the Pakistani economy. The Islamic capital market has the potential to play a significant role in the development of Pakistan’s economy by attracting more investment and creating more jobs.