What is KMI-30 (KSE-Meezan Index) on the PSX?
The KMI-30 (KSE-Meezan Index) tracks the 30 most liquid Shariah-compliant companies on the Pakistan Stock Exchange, screened under criteria set with Al-Meezan / Meezan Bank's Shariah board and rebalanced semi-annually.
How it works
Compliance screens cover the business itself (no conventional banking, alcohol, and similar) and financial ratios such as interest-bearing debt to assets and non-compliant income share. Companies drift in and out of compliance as balance sheets change.
The index matters commercially: Shariah-compliant mutual funds and pension allocations restrict themselves to KMI-eligible names, so gaining or losing compliance shifts a real pool of institutional demand.
Common questions
What makes a PSX stock Shariah-compliant?
Its core business must be permissible and its financials must pass ratio screens — limits on interest-based debt, interest-earning assets, and income from non-compliant sources, with any incidental non-compliant income purified via charity.