KARACHI: Meezan Bank, a prominent player in Pakistan's banking sector, has partnered with Iqra University to establish the IU Centre for Excellence in Islamic FinTech. The initiative aims to bolster the country's Islamic finance and FinTech ecosystem through research, innovation, and capacity-building efforts.
According to Meezan Bank Limited, the inauguration ceremony took place at Iqra University's Defence Campus, attended by notable figures including Mr. Saleem Ullah, Deputy Governor of the State Bank of Pakistan, who served as the Chief Guest. Mr. Ullah praised the collaboration, highlighting the importance of such initiatives in promoting responsible financial innovation and expanding financial inclusion.
The newly launched Centre is envisioned as a hub connecting Islamic finance with cutting-edge financial technology, promoting Shariah-compliant financial innovations. The event was hosted by Prof. Dr. Nassar Ikram, Vice Chancellor of Iqra University, alongside Mr. Muhammad Farhan Ul Haq Usmani, Honorary Director of IU CEIF.
The ceremony attracted international guests from the General Council for Islamic Banks and Financial Institutions, Islamic Finance Advisory and Assurance Services, and INCEIF University, as well as local dignitaries from the banking and FinTech sectors. Ms. Imaan Hunaid Lakhani, representing the legacy of the late Mr. Hunaid Lakhani, also attended, showing her support for the university's vision for innovation.
Prof. Dr. Ikram, in his address, emphasized the Centre's role in advancing knowledge and industry relevance in finance and technology. Meezan Bank's CEO, Dr. Syed Amir Ali, detailed the Bank's vision for the Centre's role in promoting Shariah-compliant innovation and sustainable economic growth.
The ceremony included a panel discussion on advancing Islamic financial technology in Pakistan, focusing on regulation, financial inclusion, and digital transformation. The event concluded with a ribbon-cutting ceremony and a tour of the new FinTech Lounge, marking the beginning of a collaborative effort to enhance Pakistan's Islamic finance and FinTech landscape.