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SECP establishes Shariah-Compliant Brokerage Segment, approves 33 Islamic Windows
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UrduPoint News
In addition, two other dedicated brokers are offering complete range of Islamic brokerage services, said SECP press release issued here Wednesday.
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.
Dedicated Islamic brokerage services will further expand access and attract new investors to the capital market and provide investors with a broad universe of Islamic investment opportunities.
“The development of Shariah-compliant brokerage services is an important step towards the Government’s objective of a Riba-free economy.