Karachi: The Pakistan Stock Exchange (PSX) has announced the induction of MCB Islamic Bank Limited as a trading participant for proprietary trading in Government of Pakistan (GoP) Sukuk, following the approval from the Securities and Exchange Commission of Pakistan (SECP). This decision, effective from September 18, 2026, allows the bank to engage in trading activities exclusively for its proprietary account in the GoP Sukuk market.

This development comes after a series of applications from commercial banks and mutual funds seeking to participate as trading entities in the GoP Sukuk market. According to information available from the Pakistan Stock Exchange (PSX), the induction of MCB Islamic Bank Limited follows the completion of necessary documentary, operational, and technical requirements mandated by the PSX Rulebook.

The opportunity for proprietary trading in GoP Sukuk is limited to Debt Market Clearing Members (DMCMs) of the National Clearing Company of Pakistan Limited (NCCPL). However, the scope of trading for these participants is restricted exclusively to GoP Sukuk, issued through primary market auctions at PSX. Trading in other fixed income securities, including Corporate and Government Debt Securities, within the Bills and Bonds (BnB) market remains prohibited for the inducted trading participant.

This move is part of ongoing efforts to enhance the trading framework for GoP Sukuk and expand the participation of financial institutions in Pakistan's capital markets.