Lahore: Highnoon Laboratories Limited has announced that it has received a Shariah Screening Compliance Confirmation from Meezan Bank Limited, acting in its capacity as the Shariah Technical Services and Support Provider. The development further strengthens the pharmaceutical company’s standing among Shariah-conscious investors and confirms its compliance with the Securities and Exchange Commission of Pakistan’s (SECP) prescribed screening criteria.
According to the company’s material information disclosure submitted to the Pakistan Stock Exchange (PSX), the confirmation follows Meezan Bank’s review of Highnoon’s audited financial statements for the year ended December 31, 2025. Based on this assessment, the bank confirmed that the company meets the applicable quantitative tolerance levels and other conditions outlined under S.R.O. 1348(I)/2023 issued by the SECP for Shariah screening of listed companies.
As a result of this compliance, Highnoon Laboratories has been officially recognized as a Shariah-compliant company in the reconstitution of the PSX-KMI All Share Islamic Index, as notified through PSX Notice No. PSX/N-659 dated May 29, 2026.
The accompanying compliance certificate issued by Meezan Bank notes that the confirmation is based on the company’s latest available audited financial statements. It also clarifies that the validity of the certification remains linked to those financial statements and may change with future financial reporting periods if the company’s financial position or compliance metrics change.
The inclusion in the PSX-KMI All Share Islamic Index is expected to enhance Highnoon Laboratories’ appeal among Islamic mutual funds, Shariah-compliant investment portfolios, and investors seeking opportunities that align with Islamic financial principles.
The company has shared the confirmation with the Pakistan Stock Exchange in accordance with the disclosure requirements under the Securities Act, 2015, ensuring that investors and market participants remain informed of this significant regulatory development.
