Rehan Shahid 
Nov 24, 2025
The Securities and Exchange Commission of Pakistan (SECP) on Monday approved key amendments, instructing the Pakistan Stock Exchange (PSX) to develop Shariah indices within a year.
Taking to X (formerly Twitter), SECP stated: "Companies listed on the PSX need to provide detailed information on income, debt, and investments."
It should be noted that all actions which will be taken against companies will now be publicly disclosed on the PSX website, allowing investors to make more informed decisions.
This move aims to increase transparency and support Shariah-compliant investing and safeguard investors, improve market disclosure, and build a more robust capital market ecosystem.
The amendments — by making companies' data publicly accessible and formalising Shariah screening — aim to boost market credibility and investor confidence.
Key amendments to PSX regulations
- Boost transparency: PSX must now publicly disclose all disciplinary actions taken against listed companies on its website for better-informed investor decisions.
- Improve Islamic indices: Listed companies will provide Shariah-related disclosures (income, loans, investments) directly to PSX for accurate screening and inclusion in the KMI All Share Index, enhancing the reliability of Islamic indices.
- Ease of access: Introduce dedicated Shariah-compliant forms (Customer Relationship Forms and Sahulat Account Opening Forms) to facilitate opening Islamic trading accounts and offering Shariah-compliant brokerage services.
- Reliable indices: PSX is advised to develop and maintain Sharia Indices (KMI Indices) itself or through an independent third party within 12 months.
This initiative will ease more effective Shariah-compliant screening and ensure that companies included in the indices meet the required criteria.
