[Digital consent]

1. Nature of Business: The core business of the company for the respective script must be halal and in line with the dictates of Shariah. Hence, investment in any company dealing in conventional banking, conventional insurance, alcoholic drinks, tobacco, pork production, arms manufacturing, or related activities is not Shariah permissible.

2. Shariah compliant shares based on Shariah screening criteria of PSX: in addition to the point 1 mentioned above, the shares of the company should pass Shariah screening criteria of PSX. PSX issues a list of Shariah compliant scrips on semi-annual basis after duly vetted by their Shariah Board. Therefore, investments in scrips can only be made in those scrips mentioned in a list of Shariah compliant scrips – this list is publically available on PSX.

3. Sale before Possession / Short-Selling: It is not permissible in Shariah to sale shares without having in possession. As per settlement criteria PSX/CDC, the possession of shares is received on T+2 basis. Similarly, Short-selling (sale without purchase) is not permissible in Shariah. Hence, the shares can be sold only after purchase and delivery of the same on T+2 days but not before that.
4. Dividend Purification: The dividend received on Shariah compliant scrips are subject to purify from possible Shariah non-compliant income therein. Therefore, it is important from Shariah point of view that dividend received must be purified for respective scripts as per charity rate – available on PSX website.

5. Trading in Future Market: Trading in future market is not permissible in Shariah. Hence, shares may only be traded in Ready market.

I hereby undertake that I will buy only Shariah compliant equity scrips of KMI - All shares Islamic Index - listed in Pakistan Stock Exchange which is updated and announced on semi-annual basis.

I have read and understood the above mentioned Shariah guidelines for trading in stocks (shares) and agreed to adhere them in true letter and spirit.

Further, I hereby agree and give right to the bank for suspending / blocking my account without any notice due to any non-compliance of aforementioned Shariah guidelines.

Moreover, I hereby keep Faysal Bank Limited its management, board members and officials indemnified and harmless from any action, loss, and legal proceedings if any in connection with the subject investment in shares

For more details, visit:

1. Brochure of all shares Islamic index of Pakistan - Pakistan Stock Exchange:

2. List of all shares Islamic index