How to Choose a Halal Investment Options in Pakistan: Stocks, Mutual Funds, ETFs, Sukuk, Gold and More

Choosing a halal investment in Pakistan is not simply a matter of finding an investment with the word “Islamic” in its name. A Shariah-compliant investment also needs to fit your financial goal, investment time horizon, risk tolerance, costs and the screening methodology used to determine whether it remains compliant.

Pakistan offers several Shariah-compliant investment routes. Investors can research Islamic mutual funds, Shariah-screened stocks listed on the Pakistan Stock Exchange (PSX), Islamic exchange-traded funds (ETFs), Sukuk, gold-related investments, Islamic pension funds and, for eligible overseas Pakistanis, products available through Roshan Digital Accounts.

The right starting point is therefore not “Which halal investment is best?” A better question is: Which type of halal investment fits my goal, time horizon and willingness to accept risk?

This guide explains how to make that decision and what to check before putting money into a Shariah-compliant investment in Pakistan.

Current information note: This article reflects information available in September 2026. Investment fees, fund structures, Shariah classifications, product availability and government certificate rates can change, so investors should verify current documents before investing.

What Is a Halal Investment?

A halal investment is an investment structured and selected according to applicable Shariah principles. For company shares, this normally involves two broad layers of screening.

First, the company’s core business must be permissible. Under the PSX Islamic index methodology, businesses involved in activities such as conventional interest-based financial services, gambling, liquor and certain other prohibited activities are excluded. The methodology also identifies tobacco and explosives as businesses excluded on ethical grounds.

Second, a company can be screened using financial ratios. These tests are designed to prevent a company with a permissible main business from being treated as Shariah-compliant when its financial structure or non-compliant income exceeds the relevant thresholds.

It is important to understand that Shariah screening is methodology-dependent. Different Islamic finance standards, index providers and Shariah advisers can use different definitions and thresholds. A stock or fund should therefore be evaluated according to the methodology governing that particular investment rather than a generic “halal stock” label.

How Shariah Screening Works in Pakistan

The PSX-KMI family of Islamic indices provides one of the most visible Shariah-screening frameworks in Pakistan.

For the KMI methodology used for the May 2026 recomposition, the published criteria included:

Screening Test	Published KMI Criterion Used for the May 2026 Recomposition
Core business	Must not violate Shariah principles
Interest-bearing debt / total assets	Less than 37%
Non-compliant investments / total assets	Less than 33%
Non-compliant income / total revenue	Less than 5%
Illiquid assets / total assets	More than 25%
Market price vs net liquid assets	Market price per share must be at least equal to net liquid assets per share

PSX’s May 2026 recomposition documents show these tests being applied to companies using financial data through December 31, 2025.

An important KMI update for 2026

There is an important change that investors should know about.

On February 26, 2026, PSX announced that SECP had approved a revision to the KMI Shariah-screening methodology. The interest-bearing debt-to-total-assets threshold is being reduced from 37% to 33%. PSX also introduced a Shariah compliance rating mechanism and an objection process for companies included in the KMI All-Share Index.

However, PSX stated that these changes will be implemented from the November 2026 recomposition, using June 2026 annual or half-yearly accounts.

That distinction matters. A 33% debt threshold should not be presented as though it had already replaced the 37% threshold in the May 2026 recomposition.

For investors, the practical lesson is simple: check the latest PSX Shariah-compliance notice rather than relying on an old stock list or an article published several years ago.

How to Choose a Halal Investment in Pakistan

Before comparing individual investments, start with five questions:

1. What are you investing for?
2. How long can the money remain invested?
3. How much short-term price volatility can you accept?
4. What fees and transaction costs will you pay?
5. How is the investment’s Shariah compliance established and monitored?

These questions can point you toward very different investments.

For example, money needed in a few months should not automatically be placed in a volatile equity investment simply because the investor wants “higher returns.” At the other end, someone investing for a 20-year retirement goal may need to think beyond short-term cash products.

A useful way to compare the major categories is:

Investment Type	Main Exposure	Typical Risk Profile	Main Use	Key Things to Check
Islamic Money Market Funds	Short-term Islamic instruments	Low to very low in many fund classifications	Cash management and short-term savings	Fees, liquidity, portfolio quality
Islamic Income Funds	Sukuk and other permissible income-generating assets	Medium in many classifications	Income and moderate volatility	Duration, credit quality, fees
Islamic Equity Funds	Shariah-compliant shares	High	Long-term growth	Strategy, fees, performance, screening
Halal PSX Stocks	Individual companies	High	Long-term growth	Business, valuation, financials, screening
Islamic ETFs	Basket of Shariah-compliant stocks	High	Diversified equity exposure	Index, fee, liquidity, bid/ask spread
Sukuk	Shariah-compliant capital-market instruments	Varies	Income and capital-market exposure	Structure, maturity, credit and liquidity
Gold	Gold or gold-related exposure	Varies	Diversification	Structure, spread, storage or fund costs
Islamic VPS	Retirement portfolio	Varies	Retirement planning	Sub-funds, fees, time horizon
Islamic Naya Pakistan Certificates	Sovereign Shariah-compliant certificate	Depends on structure and currency	Income for eligible investors, especially NRPs	Actual profit, tenor, currency and liquidity

MUFAP’s current fund directory demonstrates that Pakistan’s Islamic fund market includes money market, income, equity, asset allocation, fixed-rate/return, commodity and VPS categories, with risk classifications varying by product.

Islamic Mutual Funds

Islamic mutual funds are one of the most accessible ways to begin investing without selecting individual companies yourself.

A mutual fund pools investors’ money and invests according to the fund’s stated investment policy. In a Shariah-compliant fund, the investment mandate, portfolio and Shariah oversight are structured around the fund’s applicable Islamic methodology.

MUFAP’s current directory includes Islamic money market funds, income funds, equity funds, asset allocation funds and other Shariah-compliant categories offered by different asset management companies.

Islamic Money Market Funds

Islamic money market funds generally focus on shorter-duration and comparatively lower-risk instruments. MUFAP currently classifies a number of such funds in low or very low risk categories, although the exact risk classification belongs to each individual fund.

These funds can be relevant when the objective is cash management, short-term savings or reducing equity-market volatility.

That does not mean the return is guaranteed.

When comparing two Islamic money market funds, check:

• Management fee
• Total expense ratio
• Sales or redemption charges
• Portfolio composition
• Maturity profile
• Credit quality
• Historical volatility
• Redemption terms
• Shariah oversight

Islamic Income Funds

Islamic income funds generally invest in Shariah-compliant income-generating instruments, including Sukuk and related permissible assets.

MUFAP classifies Islamic income funds separately from money market funds and generally places them in medium-risk categories, although individual funds can differ.

The important point is that an income fund is not the same thing as a bank savings account. Its net asset value can move and its return can vary.

Islamic Equity Funds

Islamic equity funds invest primarily in Shariah-screened shares.

Because the underlying assets are equities, investors need to be prepared for significant price movements. MUFAP’s current fund directory classifies multiple Islamic stock funds as high risk.

An investor comparing Islamic equity funds should examine the fund’s:

• Investment strategy
• Benchmark
• Portfolio concentration
• Annual management fee
• Front-end or back-end loads
• Total expense ratio
• Shariah governance
• Historical performance
• Portfolio turnover
• Purification policy

Past performance should be treated as historical information, not as a promise of future returns.

Halal Stocks on the Pakistan Stock Exchange

Investing directly in Shariah-compliant stocks gives you more control than investing through a mutual fund, but it also requires more research.

You normally need a brokerage account, access to PSX market information and a process for checking whether a company remains Shariah-compliant.

PSX maintains Shariah-compliant indices including the PSX-KMI All Share Index and KMI-30 Index. The KMI-30 tracks 30 of the most liquid Shariah-compliant companies, while the PSX-KMI All Share Index covers the broader pool of Shariah-compliant companies.

How to Invest in Halal Stocks

A basic process looks like this:

Step 1: Open an account with a PSX-recognised broker

PSX states that investors can trade through active TREC holders and brokerage firms recognised by PSX and licensed by SECP. PSX also advises investors to compare factors such as online trading facilities, research, brokerage charges and trade confirmations when selecting a broker.

Step 2: Find the latest Shariah-compliant list

Do not rely on a random social-media list of “halal stocks.”

Check the latest PSX KMI notices or the applicable screening service.

SECP also maintains registers of Shariah-compliant companies, collective investment schemes, Sukuk, Shariah advisers and Shariah-compliant securities brokers. Its latest published register page includes updates through June 2026.

Step 3: Research the company

Shariah compliance does not automatically tell you whether the company is financially attractive.

You should still study:

• Revenue growth
• Profitability
• Debt
• Cash flow
• Valuation
• Dividend history
• Competitive position
• Management
• Industry risks

Step 4: Check the current Shariah status

A company can change its financial characteristics over time. The KMI indices are periodically recomposed, so an old Shariah-compliance result should not be treated as permanent.

Step 5: Understand purification

Direct stock investors may need to deal with purification of non-compliant income according to the applicable Shariah methodology. The exact calculation and treatment should be checked with the relevant Shariah adviser or screening methodology.

KMI-30 vs KMI All Share

The two names are easy to confuse.

Index	What It Represents
PSX-KMI All Share Index	The broader group of Shariah-compliant companies meeting the applicable criteria
KMI-30 Index	30 selected Shariah-compliant companies based on the index’s liquidity and ranking methodology
Meezan Pakistan Index	12 Shariah-compliant companies selected from the relevant KMI universe for the index

PSX states that KMI-30 uses float-adjusted market capitalisation with a 12% cap on individual constituent weights.

The KMI All Share Index can therefore be useful as a broader screening universe, while KMI-30 is a narrower index of larger and more liquid Shariah-compliant stocks.

Islamic ETFs in Pakistan

An ETF can be useful for investors who want diversified equity exposure without selecting every company individually.

Pakistan Stock Exchange currently lists two Islamic ETFs:

• Meezan Pakistan ETF, MZNPETF
• Mahaana Islamic Index ETF, MIIETF

PSX describes both as Shariah-compliant ETFs.

Meezan Pakistan ETF

The Meezan Pakistan ETF tracks the Meezan Pakistan Index. PSX’s current profile shows a management fee of up to 0.50% per year and classifies the fund as high risk. Its benchmark contains Shariah-compliant equity securities selected with significant consideration of market capitalisation and traded value.

Mahaana Islamic Index ETF

The Mahaana Islamic Index ETF tracks the Mahaana Islamic Index, or MII30. PSX states that the ETF invests in a basket of 30 Shariah-compliant equity securities selected from the KMI All Share universe. Its current termsheet shows a management fee of up to 0.70% per year and a high-risk classification.

The important difference between an ETF and an ordinary mutual fund is how you trade it.

An ETF trades on the stock exchange during market hours. This means the market price can differ from the ETF’s underlying net asset value.

PSX publishes an indicative net asset value, or iNAV, for ETFs during the trading day, but PSX explicitly notes that iNAV is an indication based on specified underlying information and should not be treated as the precise real-time NAV calculated by the fund.

What to Check Before Buying an Islamic ETF

Look at more than the management fee.

Check:

• Benchmark index
• Management fee
• Total expenses
• Bid-ask spread
• Average trading volume
• Tracking difference
• Portfolio concentration
• Rebalancing schedule
• Shariah methodology
• Dividend or distribution policy

For example, a 0.50% management fee may look inexpensive, but an illiquid ETF with a wide bid-ask spread can create another cost when you buy or sell.

Sukuk: A Halal Alternative to Conventional Bonds

Sukuk are Shariah-compliant capital-market instruments structured under Islamic finance principles. They should not simply be described as conventional bonds with a different name because the legal and economic structure can differ.

Pakistan has an active Sukuk market. PSX currently lists Government of Pakistan Sukuk and other fixed-income securities, while the government also conducts Sukuk auctions through the capital-market infrastructure.

In June 2026, the State Bank of Pakistan also announced that non-bank investors, including individuals, can participate in certain Government of Pakistan Sukuk auctions through Islamic banking institutions or Islamic banking branches using the applicable bidding arrangements.

As of September 2026, PSX’s government debt market included Government of Pakistan Hybrid Sukuk and Ijarah Sukuk offerings with different maturities and structures.

When evaluating Sukuk, consider:

• The underlying structure
• Maturity
• Expected or contractual profit/rental mechanism
• Credit risk
• Market price
• Liquidity
• Early-sale conditions
• Shariah approval
• Fees

Sukuk are not automatically equivalent in risk simply because they are Shariah-compliant.

Gold as a Halal Investment

Gold is another investment category that can be used for diversification, but the structure of the investment matters.

A person purchasing physical gold needs to consider ownership, possession, settlement and the terms of the transaction. For a financial product that provides gold exposure, investors should examine what the fund or provider actually owns and how the product is structured.

Pakistan also has Shariah-compliant gold investment products. For example, MUFAP’s current listings include the NBP Islamic Gold Fund under the Shariah-compliant commodities category.

Before investing in a gold fund or other gold-related product, check:

• Whether the product has Shariah oversight
• What asset actually backs the investment
• Fund management fees
• Purchase and redemption charges
• Tracking or pricing methodology
• Liquidity
• Storage arrangements, where applicable

Gold also has no guaranteed return. Its market price can rise or fall.

Islamic Voluntary Pension Schemes

For long-term retirement planning, an Islamic Voluntary Pension Scheme can be another route to consider.

MUFAP’s current fund directory includes VPS-Shariah Compliant Equity, Debt and Money Market sub-funds offered by several pension providers.

The advantage of looking at a pension structure separately is that retirement investing has a different time horizon from ordinary savings.

A 25-year-old saving for retirement may be able to tolerate much more short-term market volatility than someone approaching retirement.

SECP has also announced a revamped Voluntary Pension System framework in September 2026, highlighting continued regulatory development of the pension market.

Before choosing an Islamic VPS, compare:

• Equity allocation
• Debt allocation
• Money market allocation
• Fund management charges
• Switching options
• Retirement rules
• Tax treatment under current law
• Shariah oversight
• Historical risk and return characteristics

Tax rules can change, so current FBR and provider documentation should be checked before making a decision.

Halal Investing for Overseas Pakistanis

Overseas Pakistanis have additional investment routes through Roshan Digital Accounts.

SBP states that Roshan Digital Accounts allow eligible non-resident Pakistanis and other eligible non-resident persons to undertake banking and investment activities in Pakistan. The current framework provides investment avenues including government securities, shares listed on Pakistani stock exchanges and units of open-ended mutual funds, subject to the applicable account and investment rules.

The eligibility rules were also expanded in March 2026 to include eligible non-resident persons under the revised Naya Pakistan Certificate framework.

Islamic Naya Pakistan Certificates

The Islamic Naya Pakistan Certificate is particularly relevant for overseas Pakistanis looking for a sovereign Shariah-compliant investment route.

SBP describes Islamic Naya Pakistan Certificates as being based on a Mudarabah structure. The investor participates in a Mudarabah pool that is used for Shariah-compliant financing to the Federal Government, with separate pools maintained for different currencies.

As of the current SBP schedule, displayed rates for Islamic Naya Pakistan Certificates include annualised PKR rates ranging from 11.75% to 12.75%, depending on tenor. SBP also states that the actual profit rate is calculated in line with the Mudarabah structure and the pool’s actual monthly financial results.

That distinction is important. These should not automatically be described as conventional fixed-interest certificates or as guaranteed monthly returns.

For overseas investors, currency also matters. An investment denominated in PKR carries a different currency exposure from one denominated in USD, GBP, EUR, SAR or AED.

How Much Money Do You Need to Start Halal Investing?

There is no single minimum amount for halal investing.

The minimum depends on the product, provider and transaction route.

A mutual fund may allow relatively small initial investments, while direct stock investing requires enough capital to make brokerage costs and diversification practical.

An ETF trades in units on the stock exchange, so the amount needed depends on the market price of the unit plus applicable brokerage and other costs.

Sukuk and government products can have their own minimum investment requirements.

Instead of asking only “How much can I invest?”, consider:

How much can I invest without compromising my emergency savings and short-term financial obligations?

Your investment amount should be compatible with your financial position and time horizon.

How Much Does Halal Investing Cost?

Fees can have a meaningful impact on long-term wealth.

Suppose two investment products have otherwise similar exposure:

• Product A has a 0.50% annual management fee.
• Product B has a 3.00% annual management fee.

On Rs. 1,000,000, 0.50% is Rs. 5,000 per year, while 3.00% is Rs. 30,000 per year before considering other charges.

This is only a simple arithmetic illustration, not a prediction of performance. The actual cost of a fund can involve management fees, total expense ratios, sales loads, brokerage, taxes, transaction costs and other expenses.

For ETFs, add the bid-ask spread to your checklist.

For mutual funds, examine the current fund manager report and offering documents.

For a brokerage account, check the broker’s commission schedule and other applicable charges.

PSX also advises investors to compare brokerage charges and other CDC-related costs when selecting a broker.

Active vs Passive Halal Investing

Another important decision is whether you want active management or index-based exposure.

Active Islamic Investing

An active fund manager researches companies and decides which securities to buy, hold or sell within the fund’s mandate.

Potential advantages include professional management and the ability to deviate from an index.

The trade-off can include higher fees and greater reliance on the manager’s decisions.

Passive Islamic Investing

A passive fund or ETF attempts to track a specified Shariah-compliant index.

For example, MZNPETF tracks the Meezan Pakistan Index, while MIIETF tracks MII30.

Passive investing does not eliminate risk. The investor still owns exposure to equities, and the value of that exposure can fall.

The key comparison is:

Feature	Active Islamic Fund	Islamic Index Fund / ETF
Security selection	Fund manager	Index methodology
Portfolio changes	Manager-driven	Index-driven
Fees	Can be higher	Often lower, but varies
Trading	Usually through fund platform	ETFs trade on exchange
Diversification	Depends on fund	Depends on index
Main risk	Market + manager decisions	Market + index composition
Best comparison points	Fees, strategy, manager, record	Fee, index, tracking, liquidity

How to Evaluate a Halal Investment Before Buying

A simple evaluation framework can prevent many common mistakes.

1. Identify the Purpose

Are you investing for:

• Emergency reserves
• Short-term savings
• Home purchase
• Children’s education
• Long-term wealth
• Retirement
• Regular income
• Diversification

The purpose determines how much volatility you can reasonably accept.

2. Define the Time Horizon

Think in years rather than weeks.

A short-term objective may require more attention to liquidity and capital preservation. A long-term objective can potentially accommodate more equity exposure, although market risk remains.

3. Understand the Risk

Do not confuse “halal” with “safe.”

A Shariah-compliant stock can lose value.

A Shariah-compliant ETF can decline when the underlying market declines.

A Sukuk investment can have credit, market and liquidity risks.

A gold investment can fall in price.

A money market fund can have lower risk than equity funds, but it is still an investment product.

4. Check the Shariah Methodology

Ask:

• Who provides Shariah oversight?
• Which screening methodology is used?
• What financial thresholds apply?
• How frequently is the portfolio screened?
• What happens if a security becomes non-compliant?
• How is non-compliant income handled?

SECP maintains registers covering Shariah advisers and Shariah-compliant investment products, while PSX publishes its Islamic index information and recomposition notices.

5. Compare Fees

Look beyond the headline management fee.

Check:

• Management fee
• Total expense ratio
• Front-end load
• Back-end load
• Brokerage commission
• Bid-ask spread
• Trustee or other charges
• Taxes and applicable government levies

6. Check Liquidity

Liquidity tells you how easily you can convert the investment into cash without accepting a large price concession.

This is particularly relevant for ETFs and listed Sukuk.

A low-fee investment with very poor liquidity may not be cheaper in practice when you need to buy or sell.

7. Check Diversification

Holding one Shariah-compliant company does not create a diversified portfolio.

Diversification can mean spreading exposure across:

• Different companies
• Different sectors
• Different asset classes
• Different currencies
• Different geographical markets

The appropriate level of diversification depends on the investor and the investment objective.

A Simple Halal Investment Decision Framework

The following framework can help organize the decision without treating it as a personal investment recommendation.

Goal	Investment Category to Research	Main Question
Short-term cash management	Islamic money market fund	How liquid is it and what does it cost?
Moderate income objective	Islamic income fund / Sukuk	What is the structure, maturity and risk?
Long-term equity growth	Islamic equity fund	What are the fees, strategy and risk?
DIY stock investing	Shariah-screened PSX shares	Does the company pass the current screen and make financial sense?
Diversified PSX equity	Islamic ETF	What index does it track and how liquid is it?
Diversification with commodities	Gold or Islamic gold fund	What exactly backs the product?
Retirement	Islamic VPS	Which sub-funds match the retirement horizon?
Overseas Pakistanis	RDA and Islamic investment products	What currencies, products and current eligibility rules apply?

This table is a research framework, not a recommendation.

What Makes a Halal Portfolio Different From a Conventional Portfolio?

A halal portfolio is not defined simply by avoiding interest.

It can also involve:

• Business activity screening
• Financial-ratio screening
• Shariah governance
• Purification of non-compliant income
• Avoidance of prohibited structures
• Monitoring changes in compliance status

For example, PSX’s published Islamic methodology screens not only the company’s main business but also debt, non-compliant investments, non-compliant income, illiquid assets and net liquid assets relative to share price.

This is why a company’s Shariah status should be treated as something to monitor rather than a permanent label.

Common Halal Investing Mistakes

Mistake 1: Choosing an Investment Only Because It Says “Islamic”

Read the fund documents, Shariah methodology and current disclosures.

Mistake 2: Looking Only at Returns

A fund with a high historical return can also have higher risk or higher costs.

Mistake 3: Ignoring Fees

A difference in annual fees compounds over time.

Mistake 4: Using an Outdated Halal Stock List

Shariah status can change after financial statements and index recompositions.

Mistake 5: Confusing Low Risk With No Risk

Low-risk classifications do not mean zero risk.

Mistake 6: Ignoring Liquidity

An ETF or Sukuk can look attractive until the investor tries to exit during a period of low market activity.

Mistake 7: Putting Everything Into One Stock

Even a Shariah-compliant business carries company-specific risk.

Mistake 8: Treating Future Returns as Guaranteed

Historical returns are not guarantees.

Mistake 9: Ignoring Currency Risk

This matters especially for overseas Pakistanis investing in PKR while earning in USD, GBP, EUR, AED or another currency.

Where Should a Beginner Start?

There is no universal starting investment for every beginner.

Instead, start by identifying whether the money is:

Short-term money:
Research Islamic money market funds and other appropriately structured lower-risk products.

Long-term growth money:
Research Islamic equity mutual funds, Islamic ETFs and Shariah-compliant stocks.

Income-focused money:
Research Sukuk and Islamic income funds.

Retirement money:
Research Islamic VPS structures and their equity, debt and money-market sub-funds.

Overseas Pakistani money:
Research RDA investment routes, Islamic Naya Pakistan Certificates, Islamic funds and eligible Pakistani securities.

The best choice on paper can still be unsuitable if it does not match your actual financial objective.

Final Checklist Before Making a Halal Investment

Before investing, ask yourself:

• What is my investment goal?
• When will I need this money?
• Can I tolerate a temporary loss?
• What exactly does the investment own?
• What Shariah screening methodology is being used?
• Who oversees the Shariah compliance?
• How often is the investment screened?
• What happens if its Shariah status changes?
• What fees will I pay?
• How easily can I sell or withdraw?
• Am I sufficiently diversified?
• Are there tax or regulatory considerations I need to verify?

A halal investment should make sense from both a Shariah and financial perspective. Screening a company or product for compliance is only one part of the decision. You also need to understand what you are buying, how much it costs, what risks it carries and whether it fits your own financial objective.

For Pakistan investors, the available choices have expanded well beyond individual Islamic bank products. Islamic mutual funds, Shariah-screened PSX stocks, Islamic ETFs, Sukuk, gold-related products, Islamic pension funds and RDA investment routes give investors multiple ways to build a Shariah-conscious investment strategy.

The important part is not to choose an investment simply because someone calls it “the best halal investment.” Start with your objective, understand the structure, verify the current Shariah status and compare the risks and costs before investing.

External references to link:

• SECP: Revised Shariah Screening Criteria for PSX-KMI All Share Index, 26 February 2026 SECP press release
• PSX Shariah-Compliant Investment Hub: Shariah-compliant stocks, KMI-30, PSX-KMI All Share, ETFs, Sukuk and Islamic mutual funds PSX Shariah-Compliant Investment
• PSX / SECP Guidelines for Shariah-Compliant Investing: Investor guidelines covering Shariah-compliant stocks, risk, diversification and investment practices PSX Guidelines for Shariah-Compliant Investing
• PSX Investor Guidelines: Risk profile, diversification, investment research, brokerage and investor considerations PSX Investor Guidelines
• PSX Government Debt Securities & Sukuk: Government of Pakistan Hybrid Sukuk and Ijarah Sukuk, auction information and current offerings PSX Government Debt Securities Auction & Sukuk
• SBP Naya Pakistan Certificates: Conventional and Islamic NPCs, eligibility, currencies, maturities and investment information State Bank of Pakistan – Naya Pakistan Certificates
• SBP 2026 NPC Investment Rules: Updated eligibility and procedures for conventional and Shariah-compliant Naya Pakistan Certificates SBP NPC 2026 Circular
• SBP Roshan Digital Accounts: RDA investment options and facilities available to eligible overseas Pakistanis SBP Roshan Digital Accounts
• MUFAP: Islamic mutual funds, money market funds, income funds, equity funds, VPS and other fund industry data MUFAP Fund Directory
• SECP Shariah Registers: Shariah-compliant companies, securities, Sukuk, collective investment schemes and Shariah advisers SECP Register of Shariah Advisors and Shariah-Compliant Investments
• SECP Islamic Finance Standards: Shariah standards, Islamic financial accounting standards and standardization information SECP Islamic Finance – Standardization & Harmonization

StockWithWaleed is a financial education platform helping Overseas Pakistanis understand investing, trading and personal finance. The information on this website and in its articles is provided for educational purposes only and is not personalized financial, investment, tax or legal advice. Nothing on this website should be treated as a recommendation to buy, sell or hold any specific investment or security. Shariah interpretations and product structures can also differ, so readers should verify current product documentation and consult qualified financial and Islamic finance professionals where appropriate.