PAKISTAN: The Securities and Exchange Commission of Pakistan (SECP) has approved revisions to the Shariah screening criteria and methodology for the PSX-KMI All Share Index to align with international benchmarks and strengthen investor confidence in Shariah compliant capital market instruments. Under the revised framework, the non-compliant debt-to-total assets ratio has been reduced from 37% to 33% and a Shariah compliance rating mechanism assigning three-,four-, or five-star ratings has been introduced.
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