Shariah compliant: SECP joins Islamic services board
The SECP’s membership means that the regulatory authority will benefit from cooperation amongst IFSB members
ISLAMABAD:
The Securities and Exchange Commission of Pakistan (SECP) has become a member of the Islamic Financial Services Board (IFSB), Malaysia, aimed at furthering the Islamic financial services industry in Pakistan. IFSB serves as an international standard-setting body of regulatory and supervisory agencies that have interest in ensuring the stability of the Islamic financial services industry which is defined broadly to include banking, capital market and insurance, a statement of SECP said here on Thursday. The council of the IFSB in its 27th meeting held on December 8, 2015 at the Islamic Development Bank Headquarters in Jeddah, Saudi Arabia, approved the membership of the SECP for IFSB, Malaysia. The SECP’s membership means that the regulatory authority will benefit from cooperation amongst IFSB members in developing the Islamic financial services industry in Pakistan.
Published in The Express Tribune, December 11th, 2015.
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