Islamabad, Feb 18: Meezan Bank, Pakistan’s leading Islamic bank, has signed a Memorandum of Understanding (MoU) with Türkiye Katılım Bankaları Birliği (TKBB) – the Participation Banks Association of Türkiye – to drive the growth of Islamic finance. The agreement was formally signed by Mr. Ahmed Ali Siddiqui, Group Head of Shariah Compliance at Meezan Bank, and Mr. İsmail Vural, General Secretary of TKBB.
The MoU was exchanged during the official state visit of Turkish President Recep Tayyip Erdoğan to Pakistan. The high-profile ceremony took place at the Prime Minister’s House in Islamabad, emphasizing Pakistan and Türkiye’s shared commitment to strengthening Islamic banking and financial cooperation.
Key Areas of Collaboration
The agreement focuses on three main areas:
- Joint Training Programs – Both institutions will collaborate on training initiatives in Islamic finance, Shariah governance, and Sukuk, enhancing knowledge-sharing between professionals in both countries.
- Technical Collaboration – The partnership will facilitate the exchange of expertise and best practices in the Islamic banking sector, helping improve industry standards.
- Practical Insights in Islamic Banking – Meezan Bank and TKBB will work together to share real-world experiences in the field, promoting innovation and sustainability in Islamic finance.
This collaboration aligns with the broader vision of economic and financial cooperation between Pakistan and Türkiye. By leveraging each other’s strengths, Meezan Bank and TKBB aim to expand the scope of Islamic finance in their respective regions. The initiative will also help bridge gaps in Islamic banking knowledge, allowing professionals from both nations to benefit from practical training and research.
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Speaking on the occasion, Mr. Ahmed Ali Siddiqui stated, “This MoU is a significant step towards enhancing the Islamic banking landscape. By joining hands with TKBB, we look forward to developing comprehensive training and knowledge-sharing programs that will benefit the entire industry.”
Mr. İsmail Vural also expressed his optimism, highlighting that the partnership will serve as a model for other institutions aiming to strengthen Islamic finance globally.
With this agreement, Meezan Bank reaffirms its commitment to being at the forefront of Islamic finance, paving the way for future collaborations that will drive sustainable growth in the industry.
