Shariah Advisors Regulations, 2017

The Securities and Exchange Commission of Pakistan establishes mandatory registration, eligibility, and conduct standards for Shariah Advisors providing services to regulated entities. The regulations define specific educational and experience thresholds for individuals and firms, prohibit unregistered practice, and impose limits on concurrent appointments to prevent conflicts of interest. Appointing companies are required to disclose advisor compensation, ensure board-level oversight, and publicly disseminate detailed Shariah opinions, while advisors must adhere to strict professional behavior principles and reporting obligations.

SECP published 3 documents in the last 30 days — get each new one by email the day it lands.

GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN Islamabad the 15th November, 2017 NOTIFICATION S.R.O. 1190 (I)/2017- In exercise of the powers conferred by sub-section (1) of section 512 read with section 451 of the Companies Act, 2017 (XIX of 2017), the Securities and Exchange Commission of Pakistan is pleased to notify the following Shariah Advisors Regulations, 2017 the same having been previous published for public consultation in the official Gazette for eliciting public comments vide notification S. R. O 928 (I)/2017 dated 18th September, 2017.
CHAPTER I
PRELIMINARY

Short title and commencement.- (1) These regulations may be called Shariah
Advisors Regulations, 2017
(2) They shall come into force fifteen days from the date of notification of these Regulations; (3) They shall be applicable on:
(a) every person providing Shariah advisory services to a company or an entity registered, licensed, and/or regulated by the Commission; (b) every company claiming to be a Shariah compliant company except- (i) an insurance or a takaful company; and (ii) a banking company or any other company which is regulated by the State Bank of Pakistan; and (c) every company or entity claiming its securities to be Shariah compliant securities.
Definitions.- (1) In these regulations unless there is anything repugnant in the subject
or context:

Read the rest free, and get an email when SECP publishes again

Email me when SECP publishes something newOne email per publication, same day. Sign in below to keep reading.

Lineage: In force

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works