PAKISTAN: The Securities and Exchange Commission of Pakistan (SECP) has officially approved amendments to the Securities Brokers (Licensing and Operations) Regulations, 2016, to facilitate Shariah compliant brokerage services for the Pakistani securities market, said a press release.
Following the approval, the SECP granted a license to ZLK Islamic Financial Services, making it the first fully Islamic brokerage house in the country.
The regulator had, in March 2024, published a concept paper on the same, inviting feedback from market players and stakeholders before finalizing new regulations on the operational model for Shariah compliant brokerage firms in Pakistan.
