Foundation Securities launches Pakistan’s first Shariah Compliant trading platform

MG News | October 13, 2020 at 09:55 AM GMT+05:00

0:00

October 13, 2020 (MLN): Foundation Securities launched Shariah Compliant Stock Investment Shariah Edge; first-ever shariah-compliant trading platform in Pakistan.

It is an exclusive product for Shariah-compliant stocks of the KMI ALL PSX index. This new platform will allow many people to take part in the stock market who were reluctant due to the non-availability of shariah-compliant platforms.

Some of the trading features of the new Shariah-compliant platform includes:

investment only in stocks in the KMI-All Share index
100% cash basis (no leverage or loan)
trade on Ready counter only
selling allowed after settlement in 2 days after the transaction
restriction on Day-trade
restriction on the sale of Letter of Rights
trade Shariah-based Exchange Traded Fund Meezan Pakistan ETF

Investing through the Shariah Edge platform is a simple procedure- investors need to open a Shariah-compliant by filling and submitting Client Relationship and Know Your Customer (KYC) forms along with relevant documents and Biometric verification.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	136,502.54 259.91M	1.64% 2202.77
ALLSHR	85,079.90 838.35M	1.26% 1061.74
KSE30	41,552.62 97.27M	1.81% 738.33
KMI30	193,330.76 84.69M	0.39% 741.60
KMIALLSHR	56,315.31 366.02M	0.43% 243.06
BKTi	38,498.08 37.91M	4.13% 1526.33
OGTi	28,138.38 5.66M	-0.36% -101.89

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	120,600.00	123,615.00 118,675.00	2070.00 1.75%
BRENT CRUDE	69.14	71.53 69.08	-1.22 -1.73%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.25 0.26%
ROTTERDAM COAL MONTHLY	106.50	106.60 106.50	-2.20 -2.02%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.92	69.65 66.84	-1.53 -2.24%
SUGAR #11 WORLD	16.31	16.67 16.27	-0.26 -1.57%