The Center for Excellence in Islamic Finance (CEIF) at IBA marked its 10-year milestone in influencing the future of the Islamic financial s...
The Center for Excellence in Islamic Finance (CEIF) at IBA marked its 10-year milestone in influencing the future of the Islamic financial sector in Pakistan through a grand celebration named 'A Decade of Empowering Islamic Finance', which took place at the IBA City Campus.
Dr. Irum Saba, Director of IBA-CEIF, gave the opening speech. She recognized the robust partnership of Islamic financial institutions, which has allowed the center to reach this significant achievement. Dr. Saba attributed the center's success to the backing from different banking authorities, such as the State Bank of Pakistan (SBP), and thanked the event's sponsors, including Faysal Bank, UBL Ameen, Meezan Bank, AlBaraka Bank, Dubai Islamic Bank, Hemayah - EFU Family Takaful, and Pakistan Kuwait Investment Company (Pvt) Ltd.
The Executive Director of IBA, Dr. S Akbar Zaidi, gave a special speech, pointing out that 2025 has been a remarkable year for the organization, as it celebrated 70 years since its founding. He mentioned the esteemed AACSB Accreditation obtained by IBA-SBS earlier this year, which positions the school among the top 6 percent of business schools globally. He stressed IBA's continued efforts to strengthen its collaboration with the banking industry and talked about the increasing importance of the Halal economy. Dr. Zaidi also highlighted the need to create a 10-year plan for IBA-CEIF to shape its future course.
The Honored Guest, His Excellency Mr Herman Hardynata Ahmad, Consul General of Malaysia in Karachi, commended IBA-CEIF on this significant achievement and emphasized the importance Malaysia attaches to its partnership with Pakistan for the mutual advancement of the Muslim community. He pointed out that Islamic Finance fosters transparency and societal welfare, presenting a bold and progressive framework. He discussed global developments influencing the future of Islamic finance, such as Malaysia's leadership in green sukuk, the growth of digital transformation and Islamic digital banking, the development of Islamic social finance, and the role of global civilization in fostering a more unified Islamic financial system.
Dr. Ishrat Hussain, founder chairman of IBA-CEIF and former governor of SBP, praised the audience for marking a decade of IBA-CEIF's impressive journey. He highlighted that Islamic finance and banking should continue to be the main engines of growth, encouraging the creation of additional centers similar to IBA-CEIF to enhance the sector further. Dr. Hussain recognized the essential support from the IBA Board, which was crucial to the center's achievements, noting that no one person can take credit for establishing the institution; instead, it is the outcome of a collaborative effort.
The Honorable Guest, Mr Saleem Ullah, Deputy Governor of the SBP, praised IBA-CEIF for finishing its 10-year journey, mentioning that the center is recognized as a top institution in advancing Islamic finance within Pakistan. He stressed the importance of imagining the economic system that will develop after the countrywide shift to Islamic banking, underlining that substantial efforts are still required in this field.
A panel discussion titled 'Future Trends in Global Islamic Finance and the Role of IBA CEIF' brought together renowned specialists from different areas within the Islamic finance sector. Dr Abdullah Zafar Sheikh, Dean of IBA-SBS, along with representatives from several partner banks, also participated in the special event. The gathering ended on a notable note as several Memorandums of Understanding (MoUs) were signed between IBA and prominent financial institutions, such as UBL, Raqami Islamic Digital Bank, Askari Bank Ltd, BankIslami Pakistan, AlBaraka Pakistan Ltd, Faysal Bank Ltd, Maldives Islamic Bank, and First Habib Modaraba.
Provided by SyndiGate Media Inc. (Syndigate.info).
