The University of Karachi (KU) and Meezan Bank Limited have signed a Memorandum of Understanding (MoU) to enhance the knowledge and expertise of faculty members in the field of Islamic banking. The primary focus of this collaboration is to foster knowledge and expertise in Islamic banking and raise the standards of education and research in the field.
Under the terms of the MoU, Meezan Bank has committed to providing financial support to KU for capacity-building initiatives specifically designed for faculty members. The objective of this partnership is to empower faculty members with a comprehensive understanding of Islamic banking principles, practices, and emerging trends. By equipping them with up-to-date knowledge and specialized skills, this collaboration aims to contribute to the growth of the Islamic finance sector.
Muhammad Farhan ul Haq Usmani, Executive Vice President and Head of Shariah Audit at Meezan Bank, expressed his excitement about the strategic partnership, stating that it will lay the foundation for collaborative efforts to promote Islamic banking in the country. Usmani emphasized the shared commitment of both institutions to promoting Islamic banking education and supporting the growth of the Islamic finance sector.
KU Vice Chancellor (VC) Prof Dr Khalid Mahmood Iraqi expressed his delight in establishing this collaborative partnership with Meezan Bank. He highlighted the significance of this partnership in advancing Islamic banking education and nurturing highly skilled faculty members.
The MoU also signifies a significant step in fostering academia-industry collaboration, according to Prof Dr Bilquess Gul, Director of the Office of Research, Innovation, and Commercialization at KU. She commended Meezan Bank for its expertise in Islamic finance and unwavering commitment to Shariah-compliant practices. She also acknowledged the vital role played by academic institutions in cultivating talent and driving industry growth.
In summary, the collaboration between KU and Meezan Bank aims to enhance knowledge and expertise in Islamic banking through capacity-building initiatives for faculty members. This partnership reflects the shared commitment of both institutions to promoting Islamic banking education and contributing to the growth of the Islamic finance sector. By empowering faculty members with a comprehensive understanding of Islamic banking, this collaboration seeks to raise the standards of education and research in the field. Furthermore, this partnership signifies a significant step in fostering academia-industry collaboration, ultimately benefiting the development of the Islamic finance sector.
