KARACHI: Dawood Equities Limited (DEL) has announced that the Securities and Exchange Commission of Pakistan (SECP) has granted the company a Shariah-Compliant Brokerage Service – Islamic Window Certificate, enabling it to offer brokerage services under Islamic finance principles.
In a notification submitted to the Pakistan Stock Exchange (PSX) on June 30, 2026, the brokerage firm stated that it had successfully fulfilled all applicable regulatory and Shariah governance requirements necessary for obtaining the certification. These included the appointment of a qualified Shariah Advisor, Al-Hilal Shariah Advisors (Pvt.) Limited, which also issued the required Shariah opinion as part of the approval process.
According to the company, the certification reflects its commitment to expanding access to Islamic financial services while ensuring full compliance with the regulatory framework established by the SECP.
The approval, granted by the SECP’s Islamic Finance Department on June 24, 2026, permits Dawood Equities to provide Shariah-compliant brokerage services through an Islamic Window, subject to several operational conditions. These include maintaining customer and margin accounts with Islamic banks or Islamic banking windows, restricting trading activities to Shariah-screened securities, and adhering to the Shariah Governance Regulations, 2023.
The SECP further emphasized that the approved model remains subject to future regulatory developments introduced by the regulator and the Pakistan Stock Exchange, including any additional requirements relating to Islamic brokerage operations. The company has also been directed to ensure ongoing compliance with the Guidelines for Offering Islamic Financial Services, 2023.
With the certification now in place, Dawood Equities joins the growing number of brokerage firms offering Islamic investment solutions, supporting the continued development of Pakistan’s Islamic capital market and providing investors with Shariah-compliant trading opportunities.
