Karachi: The Pakistan Stock Exchange (PSX) has reiterated the need for stringent compliance with mandatory Shariah disclosures for all Shariah-compliant listed companies and issuers of listed securities. As outlined in PSX Notice No. PSX/N-435, dated April 17, 2026, these entities are required to integrate these disclosures into their annual financial statements for the fiscal year ending June 30, 2026.

The comprehensive directive, dated September 11, 2026, mandates adherence to PSX Regulations 5.6.9A and 5A.13(e). The regulatory framework aims to ensure uniformity, comparability, and consistency across disclosures. Companies are obliged to provide explicit reporting when certain fields or sub-clauses are non-applicable, using terms like "Not Applicable" or "Zero" to denote such cases. The omission of mandatory information or leaving fields blank will be considered non-compliance.

To standardize reporting, all financial statements must bear the heading: "Shariah Disclosures under Clause VII of Part I of Schedule IV of the Companies Act, 2017." According to information available from the Pakistan Stock Exchange (PSX), any deviation from these stipulations will result in penalties. Non-compliance will be met with a fixed penalty of PKR 100,000, with an additional daily penalty of PKR 2,000 until the default is resolved. This enforcement underscores the PSX's commitment to maintaining rigorous oversight of corporate disclosure obligations, ensuring that all relevant listed entities adhere to the specified standards and protocols.