Halal Stocks on the Pakistan Stock Exchange (PSX): Sharia-Compliant List (2026)

There are 310 Sharia-compliant (halal) companies on the Pakistan Stock Exchange under the latest KMI All-Share screen.

Source: KMI All-Share Index screening · official notice PSX/N-659 · effective 2026-06-05.

Halal investing means owning shares only in businesses that comply with Islamic (Sharia) principles. On the PSX, the authoritative reference is the KMI All-Share Index, which screens out interest-based finance (conventional banks, leasing), alcohol, gambling, tobacco and other prohibited activities, then applies financial ratios (notably interest-bearing debt and non-compliant income limits). Below is the full current list, grouped by sector. Click a highlighted ticker for a detailed screening breakdown.

Full KMI-compliant list by sector

Automobile Assembler (7)

Automobile Parts & Accessories (7)

Cable & Electrical Goods (5)

Cement (16)

Chemical (20)

Commercial Banks (3)

Engineering (11)

Exchange Traded Funds (2)

Fertilizer (3)

Food & Personal Care Products (21)

Glass & Ceramics (7)

Inv. Banks / Inv. Cos. / Securities Cos. (1)

Leather & Tanneries (4)

Miscellaneous (10)

Modarabas (17)

Oil & Gas Exploration Companies (3)

Oil & Gas Marketing Companies (6)

Other (38)

Paper, Board & Packaging (9)

Pharmaceuticals (14)

Power Generation & Distribution (6)

Property (1)

Real Estate Investment Trust (2)

Refinery (4)

Sugar & Allied Industries (18)

Synthetic & Rayon (6)

Technology & Communication (10)

Textile Composite (27)

Textile Spinning (22)

Textile Weaving (4)

Transport (3)

Vanaspati & Allied Industries (2)

Woollen (1)

How Sharia stock screening works

Two tests must both pass. First, the business activity must be permissible. Second, the financial ratios must be within limits — interest-bearing debt to market capitalisation below roughly one third, and income from non-compliant sources below ~5%. The KMI methodology applies these tests; a company that fails either is excluded.

New to this? Read What makes a stock halal? and Halal investing in Pakistan: a beginner's guide.

Frequently asked questions

What makes a stock halal (Sharia-compliant)?

A stock is considered halal when the underlying business is permissible (no interest-based finance, alcohol, gambling, conventional insurance, pork or other prohibited activities) and it passes financial screens — chiefly low interest-bearing debt relative to market cap and a very small share of income from non-compliant sources. On the PSX this is captured by the KMI All-Share Index screening.

Is the KSE-100 index halal?

No. The KSE-100 includes conventional banks and other non-compliant businesses. For Sharia-compliant exposure, investors use the KMI All-Share / KMI-30 universe, which only contains screened companies.

How often is the halal stock list updated?

The KMI All-Share compliant list is reviewed and republished periodically by the exchange. This page reflects the latest official screen (notice PSX/N-659, effective 2026-06-05).

Does Sharia compliance guarantee a stock is a good investment?

No. Compliance is about permissibility, not quality or valuation. Always assess the business, balance sheet and price before investing, and verify the current Sharia status.