Digitization of Islamic Financial Intstitutions

The Centre for Excellence in Islamic Finance organized a Product Development and Shariah Compliance Forum on the Digitization of Islamic Finance on Tuesday, 23rd August at the IBA City Campus. The main speakers at the workshop were two IBA Alumni from Ephlux Mr. Naim Ilyas and the CEO Mr. Ali Nasim. The session was attended by leading bankers and industry professionals from organizations like Al Baraka Bank Pakistan, Meezan Bank, Summit Bank, Dubai Islamic Bank, Oracle, UBL Ameen, ABL Asset Management Co., Hira Foundation and members of the IBA Faculty.

Mr. Ahmad Ali Siddiqui, the Director of IBA CEIF started the proceedings by introducing IBA CEIF and highlighting the need for forums where leading academicians and industry experts can discuss important challenges and help Islamic finance to grow in Pakistan. He mentioned the Product Development and Shariah Compliance (PDSC) as one example of such an endeavor.

Islamic Finance is part of the services industry, and hence taking care of the changing customers' needs is a key strategic objective. Many technology experts work with the service industry today to cater to the customers' demands.