The Pakistan Stock Exchange (PSX) has been awarded the Best Islamic Stock Exchange Award 2023 by the Global Islamic Finance Awards (GIFA). This is the third year in succession that PSX has received this prestigious award.
The GIFA is a globally recognised platform that recognises excellence in Islamic banking and finance. Since 2011, the Awards have been given to individuals, institutions, and government departments from all over the world who show exceptional achievement in developing Islamic banking and finance, as well as commitment to social responsibility.
Farrukh H. Khan, the PSX MD and CEO, commented at the event, “Pakistan Stock Exchange is very proud to have received the Global Islamic Finance Award for the third consecutive year by Global Islamic Finance Awards.” GIFA has recognised us for our commitment to providing excellence in Islamic finance products, offerings, and regulatory reforms, and we are grateful.”
“Pakistan Stock Exchange is a robust and strong platform for Shariah-compliant products and capital raising,” he added.
With 251 Shariah-compliant companies listed on PSX, accounting for more than 65 percent of the total market cap, PSX provides an excellent platform for investors to channel their funds into Islamic financial offerings, as well as for financial institutions to create and bring new products, such as Sukuks, Shariah-compliant mutual funds, modarabas, ETFs, and others to assist corporates and GoP in raising funds from the capital markets.
We are grateful to GIFA for bestowing this honor on us. We were able to acquire this distinguished honour thanks to the assistance and capable leadership of the SECP, the PSX board, and the management team.”
