Karachi: Waves Corporation Limited has submitted its mandatory Shariah compliance disclosures for the period ending June 30, 2026, as per the requirements set forth by the Pakistan Stock Exchange (PSX). This submission, reported on September 17, 2026, aligns with the regulatory directives outlined in the PSX letter dated September 11, 2026.

According to the Shariah disclosures detailed by Waves Corporation Limited, the company maintains Shariah-compliant bank deposits and balances amounting to 1.16 billion rupees as of June 30, 2026, compared to 39.55 million rupees reported on December 31, 2025. This denotes a very large or significant move in the Shariah-compliant financial activities of the company over the six-month period. Furthermore, the profit earned from these Shariah-compliant bank deposits reached 12.97 million rupees, up from 1.48 million rupees for the previous audited period.

The company has also highlighted its associations with banks that offer Islamic window operations, facilitating both bank balances and borrowing facilities in adherence to Shariah principles. According to information available from the Pakistan Stock Exchange (PSX), these disclosures are part of the compliance under clause 5.6.9A and 5A (e) of the PSX Regulations, which necessitates transparency in Shariah-compliant financial activities for listed companies.

The report further clarifies that Waves Corporation Limited did not engage in any Shariah-compliant short-term or long-term financing during the period under review. The company's commitment to Shariah principles is evident in its financial dealings and profit-generating activities, reflecting the growing trend among corporations to align with Islamic financial regulations.