ZLK Islamic Financial Services ZLK Halal Stock Brokerage Account

Pakistan's first fully Shariah-compliant stock brokerage: licensed by SECP in April 2024 under amendments to the Securities Brokers Regulations that created the Shariah-compliant brokerage category, certified under the Shariah Governance Regulations 2023. The product set replaces conventional rails end to end - screened equities, GoP Ijarah sukuk, ETFs, and Murabaha Share Financing in place of interest-based margin lending. Behind it sits the ZLK Group of Rawalpindi/Islamabad broker Zahid Latif Khan Securities (established 1999, ~10,000 active UINs, 9 branches, PMEX member since 2010), and a July 2024 MoU routes Dubai Islamic Bank Pakistan customers - including Roshan Digital Account holders - to ZLK for riba-free capital markets products. Commissions and financing rates are not published; request the schedule directly.

ZLK Islamic is the missing infrastructure piece of Pakistani halal investing: you could always buy an Islamic fund, but the brokerage rails themselves - margin, cash management, product shelf - remained conventional until SECP's April 2024 license created a certified alternative. The DIBPL partnership suggests institutional confidence, and Murabaha Share Financing is a genuinely novel consumer product. What our review couldn't establish matters, though: no public Shariah board names, no client numbers, and near-zero web presence for the subsidiary itself. Treat it as a credible first mover worth contacting directly - particularly if you're a DIBPL or Roshan Digital Account customer - and ask for the Shariah certification and fee schedule in writing, because neither is published.