PSX Introduces Dedicated Islamic Trading Counter for Investors

The Pakistan Stock Exchange has opened a Shariah-compliant trading counter, joining 39 brokerages and two dedicated Shariah brokers, to offer Islamic shares, Ijarah Sukuk and corporate Sukuk.

NationPulse Desk

Oct 29, 2026 · 9:34 PM 2 min read

Key takeaways

PSX launched a Shariah-compliant trading counter after SECP approved the regulations

Thirty-nine brokerages joined via Islamic windows, with two firms licensed solely as Shariah brokers

The counter trades only Shariah-compliant shares, government Ijarah Sukuk and corporate Sukuk

Murabaha Share Financing is offered as an alternative to conventional share financing

Investor accounts at PSX have surpassed 650,000, driven by Millennials and Gen Z

The Pakistan Stock Exchange (PSX) has opened a dedicated trading counter for investors seeking to buy and sell shares and other securities that follow Islamic principles.

This launch comes after the Securities and Exchange Commission of Pakistan (SECP) approved the Shariah Trading Counter Regulations, creating a platform for both retail and institutional investors to make Shariah-compliant investments.

Thirty-nine brokerage firms have entered the programme through their Islamic windows, and two additional brokerage houses hold licences to operate solely as Shariah-compliant brokers.

Only Shariah-compliant shares, government Ijarah Sukuk and corporate Sukuk may be traded on the counter; interest-based financing products, short selling and derivatives are prohibited.

Investors may use Murabaha Share Financing (MSF) as a Shariah-compliant alternative to conventional share financing, and they can also sell non-compliant holdings to align portfolios with Islamic investment rules.

PSX has added a Shariah portal to its Data Portal, allowing investors to identify eligible shares and Sukuk for Islamic investment.

Clients may open standard trading accounts or Sahulat Accounts using a Shariah-compliant customer relationship and risk disclosure document.

PSX Managing Director and CEO Farrukh H. Sabzwari said the new system would improve access to Islamic investment opportunities and strengthen investor confidence.

He noted that the exchange's investor accounts have exceeded 650,000, with Millennials and Gen Z playing a major role in new participation.

SECP Commissioner Imtiaz Haider said the initiative could draw more investors and create opportunities for brokerage firms.

The regulator also intends to broaden digital retail Sukuk and roll out Shariah-compliant tools for liquidity and risk management.

Questions and answers

How many brokerage firms are involved in the new Islamic trading counter?

Thirty-nine brokerage firms have joined through their Islamic windows, and two other brokerage houses are licensed to operate exclusively as Shariah-compliant brokers.

What types of securities can be traded on the new counter?

Only Shariah-compliant shares, government Ijarah Sukuk and corporate Sukuk may be traded; interest-based financing, short selling and derivatives are not allowed.