The University of Karachi (UoK) and Meezan Bank inked the Memorandum of Understanding which aims to bolster the capacity building of faculty members in Islamic banking with a primary focus on fostering knowledge and expertise in this specialized domain.
The KU Vice-Chancellor Professor Dr Khalid Mahmood Iraqi and the Executive Vice-President and Head of Shariah Audit of the Meezan Bank Muhammad Farhan ul Haq Usmani signed the MoU documents at the VC Secretariat.
As per the terms of the MoU, Meezan Bank has pledged to provide financial support to the KU for capacity-building initiatives specifically designed for faculty members. The primary objective is to empower the faculty with a comprehensive understanding of Islamic banking principles, practices, and emerging trends. This partnership aims to equip them with up-to-date knowledge and specialised skills, thereby raising the standards of education and research in Islamic banking.
On this occasion, the EVP and Head of Shariah Audit of the Meezan Bank Farhan Usmani expressed that this strategic partnership would lay a foundation for the collaborative efforts of both institutions in promoting Islamic banking in the country. He mentioned that through this formal agreement, the UoK and Meezan Bank demonstrate their shared commitment to promoting Islamic banking education and facilitating the growth of the Islamic finance sector.
He said that we take immense pride in embarking on this collaborative journey with the University of Karachi and added that as the pioneering Islamic bank in Pakistan, we deeply understand the significance of academic-industry collaboration in nurturing a robust Islamic finance ecosystem.
“This partnership will enable us to contribute to the academic growth of faculty members and equip them to shape the future of Islamic banking.”
Meanwhile, the KU VC Prof Dr Khalid Iraqi said that we are delighted to forge this collaborative partnership with Meezan Bank. He mentioned that this significant collaboration underlines our shared dedication to advancing Islamic banking education and nurturing a highly skilled faculty.
“By leveraging our combined resources and expertise, we aim to contribute to developing a competent workforce capable of addressing the evolving needs of the Islamic finance industry.”
The KU Director Office of Research, Innovation and Commercialization Prof Dr Bilquess Gul shared that the MoU between the UoK and Meezan Bank signifies a significant step forward in fostering academic-industry collaboration and advancing Islamic banking education.
“This partnership is expected to fortify the knowledge base, facilitate research initiatives, and cultivate industry-ready professionals in Islamic finance.”
She mentioned that recognized for its expertise in Islamic finance and unwavering commitment to Shariah-compliant practices, Meezan Bank acknowledges the pivotal role played by academic institutions in cultivating talent and driving industry growth. Through this strategic alliance with Karachi University, the bank endeavours to support the development of skilled professionals who can actively contribute to the ongoing progress of the Islamic banking sector.