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KARACHI, Feb 04 (APP):The University of Karachi and Meezan Bank Limited signed a memorandum of understanding (MoU) to enhance faculty capacity in Islamic banking and finance.
KU Vice Chancellor Professor Dr Khalid Mahmood Iraqi and senior Vice President from Meezan Bank Limited Shoeb Muhammad Shaikh inked the MoU documents at the VC Secretariat, said a statement on Tuesday.
Professor Dr Khalid Iraqi expressed that due to its immense economic importance, the Islamic banking system is rapidly growing in the Islamic world and Europe today.
He stated that there is an urgent need to expand the scope of postgraduate diplomas and master’s education in Islamic banking in Pakistan, as Islamic banks currently have a high demand for trained Islamic bankers and they require individuals with quality education and training.
The KU VC Professor Dr Khalid Iraqi shared that by collaborating with one of the leading industry players like Meezan Bank, we aim to equip our faculty with the latest knowledge and skills to educate future generations of Islamic finance professionals effectively.
Senior Vice President of Meezan Bank Limited Shoeb Muhammad Shaikh mentioned that the bank encouraged and supported faculty research in Islamic finance through joint research projects and access to industry data.
He added that this collaboration aims to provide faculty members with in-depth knowledge and expertise in Islamic finance principles, products, and practices.
He observed that this MoU signifies a valuable collaboration between academia and industry, fostering a deeper understanding of Islamic finance principles and contributing to the development of a skilled workforce in this rapidly growing sector.
Shoeb Muhammad Shaikh mentioned that this financial contribution highlights Meezan Bank’s ongoing commitment to enhancing Islamic finance education in Pakistan and ensures that KU’s faculty receives access to the latest training, industry insights, and cutting-edge resources.
The KU’s Director of Office of Research, Innovation and Commercialization Dr Syeda Hoor-Ul-Ain emphasized the importance of academia-industry collaboration and acknowledged Meezan Bank’s commitment to supporting academic institutions in developing a strong talent pool for the Islamic finance industry.
She observed that this partnership with KU will not only enhance faculty capabilities but also contribute to the growth and development of the Islamic finance sector in Pakistan’s research field.
As per the MoU, Meezan Bank Limited has granted Rs 750,000 to the University of Karachi for its faculty capacity-building program to bolster the faculty’s expertise in Islamic banking and finance sectors.
The KU Dean of the Faculty of Management and Administrative Sciences Professor Dr Zaeema Asrar, the Chairperson of the Department of Health, Physical Education and Sports Sciences Professor Dr Basit Ali Ansari, team ORIC from the University of Karachi, the regional channel manager Karachi north region Syed Waqas Aijaz, the regional channel manager Karachi east region Sarosh Ahmed Khan, the regional channel manager Karachi south region Muhammad Hasan Sakrani, business manager Muhammad Ashfaq and others attended the MoU signing ceremony.