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Pakistan regulator

Pakistan regulator to adopt 7 new Islamic finance standards

KARACHI: Pakistan’s capital market regulator will introduce seven new standards covering a variety of Islamic finance transactions, as it fast-tracks the adoption of rules to help streamline the industry practices. The Securities and Exchange Commission of Pakistan (SECP) said in a statement that it had opened a two-week public consultation period for the standards, which are to be issued by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). The sharia standards cover the areas…