Notification of Draft Shariah Standards 21

GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.- Islamabad, the 9 th April, 2018 NOTIFICATION

S.R.O. 436 (I)/2018. The draft Shariah Standards of Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI) namely; Shariah Standard No. 21 – Financial Papers (Shares & Bonds), Shariah Standard No. 27- Indices, Shariah Standard No. 30 – Monetization (Tawarruq), Shariah Standard No. 44 - Obtaining and Deploying Liquidity, Shariah Standard No. 45 – Protection of Capital and Investments, Shariah Standard No. 46 - Al-Wakalah Bi Al-Istithmar (Investment Agency), and Shariah Standard No. 53- Arboun (Earnest Money), proposed to be adopted by Securities and Exchange Commission of Pakistan (the Commission) in exercise of the powers conferred by sub-section (1) of section 225 of the Companies Act, 2017 (XIX of 2017) are hereby published for information of all persons likely to be affected thereby and notice is hereby given that objections and suggestions, if any, received within fourteen days from the date of placement on the Commission’s website, shall be taken into consideration.