Meezan Bank, Iqra University establish Centre of Excellence for Islamic FinTech

Meezan Bank and Iqra University have launched the IU Centre for Excellence in Islamic FinTech (IU CEIF) in Karachi, establishing a dedicated hub for research, innovation, industry collaboration and capacity-building at the intersection of Islamic finance and financial technology. The centre was inaugurated at Iqra University’s EDC Defence Campus auditorium in a ceremony attended by the State Bank of Pakistan’s Deputy Governor Mr Saleem Ullah, senior executives from Meezan Bank, international guests from CIBAFI (Bahrain), IFAAS (UK) and INCEIF (Malaysia), as well as members of academia, students and industry professionals.

"I commend the collaboration between Iqra University and Meezan Bank and reaffirm the State Bank of Pakistan’s support for initiatives that strengthen Islamic finance, promote responsible innovation, and expand financial inclusion," said Mr Saleem Ullah in his remarks at the inauguration.

Context and objectives

The IU CEIF is designed to support Pakistan’s Islamic finance and FinTech ecosystem by promoting Shariah-compliant financial innovation and building future-ready capabilities. Iqra University and Meezan Bank describe the centre as a platform for research-led solutions, industry engagement and skills development aimed at advancing digital transformation within the Islamic finance sector.

Prof Dr Nassar Ikram, Vice Chancellor of Iqra University and one of the event hosts, framed the centre as an institutional commitment to bridging academia and industry. "The Centre reflects Iqra University’s commitment to advancing knowledge, innovation, and industry relevance in emerging areas of finance and technology," he said, stressing that the collaboration with Meezan Bank would strengthen the future of Islamic FinTech in Pakistan.

Meezan Bank’s President and CEO Dr Syed Amir Ali delivered the keynote address, articulating the bank’s strategic view for the centre. "The need for a robust Islamic FinTech ecosystem that combines technological advancement with sustainable economic growth" was a central point in his speech, underscoring the bank’s focus on Shariah-compliant innovation, skills development and financial inclusion.

Programme elements and participants

• Leadership and hosts: Prof Dr Nassar Ikram (Vice Chancellor, Iqra University) and Mr Muhammad Farhan Ul Haq Usmani (Honorary Director, IU CEIF).
• Senior guests: Mr Saleem Ullah (Deputy Governor, State Bank of Pakistan) acted as chief guest.
• International representation: Delegations from the General Council for Islamic Banks and Financial Institutions (CIBAFI), Islamic Finance Advisory and Assurance Services (IFAAS) and INCEIF – International Centre for Education in Islamic Finance.
• Internal stakeholders: Meezan Bank Shariah Board members Dr Muhammad Imran Ashraf Usmani and Sheikh Esam Mohamed Ishaq, and Ms Imaan Hunaid Lakhani as a distinguished guest.

The inauguration programme included an introductory video outlining IU CEIF’s strategic direction, a panel discussion on regulation, financial inclusion, talent development and digital transformation, a ribbon-cutting ceremony, presentation of souvenirs and a tour of a newly established FinTech Lounge on campus.

Outlook

Through IU CEIF, Meezan Bank and Iqra University aim to build a sustained platform for applied research, industry-academia collaboration and capacity-building that contributes to the long-term development of Pakistan’s Islamic finance and FinTech landscape. The partners intend the centre to help prepare students and professionals for evolving demands in the global financial environment while promoting Shariah-compliant digital financial services and wider financial inclusion across the country.