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Shariah-compliant firms

SECP drafts governance rules for Shariah-compliant firms, securities

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has drafted a comprehensive set of regulations for governance of Shariah-compliant companies and entities. The move by the Securities and Exchange Commission of Pakistan (SECP) marks the first time a regulator has defined comprehensive requirements for companies that deem themselves to be compliant with Islamic principles. Regulators across Asia and the Middle East, such as Malaysia and Bahrain, have typically focused their attention on Islamic banks,…