| For developing an Islamic capital market in line with best practices globally, the Securities and Exchange Commission of Pakistan (SECP) is contemplating the establishment of a shariah board, an official said. The board, comprising eminent Islamic scholars and market professionals, would ensure that all the products/ services offered under this umbrella are in conformity with the shariah principles.
“Also, efforts will be made for consolidation of existing Islamic institutions and development of innovative shariah- compliant institutions, products and services in order to deepen the capital market,” the official said...............................................Full Article: Source
|