BankIslami signs MOU with COMSATS University

F.P. Report

LAHORE: BankIslami Pakistan Limited, one of the leading Islamic Banks in the country, has signed a Memorandum of Understanding (MOU) with Center of Islamic Finance – COMSATS University (CUI), Lahore Campus, one of the leading public sector univerities of the country, to collaborate in conducting Islamic Banking awareness seminars and workshops for the students and public at large to spread understanding about Islamic Banking.

BankIslami will also support CUI in research initiatives in Islamic Banking and Finance.

The MOU was signed by Mr. Syed Amir Ali, President & CEO of BankIslami Pakistan Limited and Dr. Abdus Sattar Abbasi, Head of Center of Islamic Finance, CUI, Lahore Campus.

The signing ceremony took place during the 7th Global Forum on Islamic Finance which was held recently in Lahore. Mr. Raja Yassir Humayun Sarfraz – Minister for Higher Education and Tourism, Government of Punjab and Mr. Samiullah Chaudhry – Punjab Food Minister also graced the occasion.

The MOU is being seen as a welcome move in contribution towards the burgeoning Islamic Banking Industry and is a praiseworthy example of the Industry and Academia joining hands to foster Islamic Banking through awareness sessions and academics with a special focus on research.

With a network of 330 branches in 114 cities nationwide, BankIslami Pakistan Ltd. was the first Islamic commercial bank to receive the Islamic banking license under the Islamic banking policy of 2003 from State Bank of Pakistan on March 31, 2005.

The Bank started its operations from 7 April 2006 and offers Shariah compliant retail banking, investment banking, consumer banking, and trade finance products.