NCML clarifies non-applicability of Shariah disclosures

MG News | April 06, 2026 at 11:15 AM GMT+05:00

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April 6, 2026 (MLN): Nazir Cotton Mills Limited (PSX: NCML) clarifies its position regarding Shariah-related disclosures under the Fourth Schedule of the Companies Act. The company confirmed that this disclosure requirements apply only to entities designated as Shariah-compliant or listed on an Islamic index.

As Nazir Cotton Mills does not fall into either category and does not conduct Shariah-compliant transactions, the relevant disclosures were deemed non-applicable in its financial statements, the company's filing on PSX revealed today.

To enhance transparency and align with regulatory expectations, the company will include explicit NIL disclosures for Shariah-related requirements under the Fourth Schedule in future financial statements.

Nazir Cotton Mills emphasizes its ongoing commitment to full compliance with all applicable laws and corporate governance standards.

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