Foundation Securities launches Pakistan’s first Shariah Compliant trading platform

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.

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Posted on: 2020-10-13T09:55:00+05:00