Pakistan’s First Shariah-Compliant Exchange Traded Fund Launched by Al Meezan Investments

Pakistan’s sole fully-fledged Shariah-compliant asset management firm, Al Meezan Investments (Al Meezan) launched the country’s first Islamic Exchange Traded Fund (ETF). The Islamic ETF, which was launched along with three other ETFs on the 6th of October 2020, marked the launch of ETFs on the Pakistan Stock Exchange (PSX).

Al Meezan’s Islamic ETF was launched under the moniker Meezan Pakistan Exchange Traded Fund (MP-ETF), whilst the ETF will trade on the PSX under the ticker ‘MZNP-ETF’.

MZNP-ETF is approved by the Securities and Exchange Commission of Pakistan (SECP) and will track the Meezan Pakistan Index (MZNPI) as the underlying benchmark fund in...