PAKISTAN: Data released by the Mutual Funds Association of Pakistan (MUFAP) showed the total AuM of Islamic fund managers reached PKR2.1 trillion (US$7.49 billion) as at the 28th February 2026, close behind the PKR2.25 trillion (US$8.02 billion) for conventional funds. This was a marked jump from end-February 2025, when Shariah funds total AuM stood at PKR1.7 trillion (US$6.06 billion) while conventional funds were valued at PKR2.1 trillion then.
At this growth rate, Islamic funds total AuM should surpass conventional counterparts ahead of the 1st January 2028 constitutional deadline for Pakistan’s financial industry to be fully Shariah compliant.
MUFAP data shows Islamic funds in Pakistan now total 380, compared to 141 conventional offerings. The top five Islamic funds by value are:
- Al Meezan Investment: PKR701 billion (US$2,49 billion)
- NBP Fund Management (PKR551 billion (US$1.96 billion)
- MCB Investment Management PKR421 billion (US$1.5 billion)
- UBL Fund Managers PKR386 billion (US$1.37 billion)
HBL Asset Management PKR358 billion (US$1.27 billion)
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