SECP seeks feedback on Sharia-Compliant brokerage services

ISLAMABAD, Mar 09: Pakistan's Securities and Exchange Commission (SECP) has called for input from stakeholders on how best to facilitate Sharia-compliant brokerage services in the country's securities market.
The SECP released a concept paper outlining several options for brokers to offer Sharia-compliant services. These include setting up a dedicated Islamic brokerage subsidiary or establishing a specialized Islamic window within existing brokerages.
This initiative follows the SECP's issuance of guidelines last year allowing conventional financial institutions to offer Sharia-compliant products. The move is seen as a way to promote the growth of Islamic capital markets in Pakistan and encourage wider financial inclusion.
The concept paper is available on the SECP's website, and stakeholders are invited to submit their feedback.