Karachi: Gadoon Textile Mills Limited has been granted a Shariah Compliance Certificate by the Securities and Exchange Commission of Pakistan (SECP), marking a significant development in the company's operations. Announced on October 2, 2026, this certification follows a thorough compliance screening conducted by Alhamd Shariah Advisory Services (Private) Limited, confirming that the company aligns with the Shariah Governance Regulations, 2023.

The SECP's decision comes after evaluating Gadoon Textile Mills' application, submitted under regulation 4 of the Shariah Governance Regulations, 2023, in conjunction with Section 451 of the Companies Act, 2017. According to information available from the Pakistan Stock Exchange (PSX), Gadoon Textile Mills Limited has successfully met the criteria required for Shariah compliance, leading to this formal recognition.

Gadoon Textile Mills is now required to adhere to the provisions of the Companies Act, 2017, and maintain compliance with any regulations, directives, or guidelines issued by the SECP or its Shariah supervisory board. The company must also submit an annual Shariah review report, in addition to other reports as specified by the applicable laws.

Specific conditions accompanying the certification include a mandate for Gadoon Textile Mills to amend its Memorandum of Association to include adherence to Shariah rules and principles. Furthermore, the company is expected to implement a Shariah Governance Framework to ensure continued compliance and to adopt Islamic Financial Accounting Standards for accurate financial representation.

This certification remains valid unless the company voluntarily surrenders it or the SECP decides to suspend or cancel it under the stated regulations. The recognition not only marks a milestone for Gadoon Textile Mills but also aligns with the broader industry trend towards embracing Shariah-compliant business practices.