RECORDER REPORT

KARACHI: The Securities & Exchange Commission of Pakistan (SECP) has registered Al Hilal Shariah Advisors (Pvt) Limited as the first Shariah Advisory company in Pakistan under the Shariah Advisory Regulations 2017.

Al Hilal Shariah Advisors (Pvt) Limited became the first Shariah Advisory company in the country registered by the Securities & Exchange Commission of Pakistan, providing Shariah Advisory services to various Islamic financial institutions including Asset Management Companies, Modaraba and other Islamic Financial Institutions.

Al Hilal aims at converting the conventional interest-based economy to the Islamic financial system under the guidance of Shariah Scholars and financial experts and has been operating since 2011 but after the initiation of the regulatory requirements, it has registered to become the first Shariah advisory firm in Pakistan.

“We are proud to have been given the honour by the SECP of being the first Shariah Advisory Company in Pakistan,” said Faraz Younus Bandukda, CFA the Chief Executive at Al Hilal. “Islamic finance is a growing phenomenon and we are happy to become recognized facilitators for every organization who wishes to or is operating as per Shariah principles.

We are hopeful that more companies will now implement Shariah regulations and we will be looking forward to providing our advisory services and ensure the

process is not just smooth but also profitable and sustainable.”

Al Hilal Shariah Advisors provides Shariah Advisory, Shariah audit and training services in the field of Islamic finance, catering to Banking, Insurance, Investment Managers, Capital Markets and other Financial Institutions.

Al Hilal is also active in the field of halal food certification. With a team of expert Shariah scholars and industry professionals, Al Hilal is set to become the source of guidance for business pursuing to become Shariah compliant.