Meezan Bank has established the IU Centre for Excellence in Islamic FinTech (IU CEIF) at Iqra University in collaboration with the university to promote research, innovation and skills development in Islamic finance and financial technology.
According to the university information today, the centre was inaugurated during a ceremony at the University Auditorium of Iqra University’s EDC Defence Campus in Karachi. State Bank of Pakistan Deputy Governor Saleem Ullah attended the event as the chief guest.
Addressing the ceremony, Saleem Ullah praised the collaboration between Iqra University and Meezan Bank and said the State Bank of Pakistan would continue supporting initiatives aimed at strengthening Islamic finance, promoting responsible innovation and expanding financial inclusion.
The centre has been established as a platform for research, innovation, industry collaboration and capacity building at the intersection of Islamic finance and financial technology. It aims to support Pakistan’s expanding Islamic finance and FinTech sector by encouraging Shariah-compliant financial innovation and developing future-ready expertise. The event was hosted by Iqra University Vice Chancellor Prof. Dr. Nassar Ikram and IU CEIF Honorary Director Muhammad Farhan Ul Haq Usmani.
The ceremony was attended by representatives of the General Council for Islamic Banks and Financial Institutions (CIBAFI) of Bahrain, Islamic Finance Advisory and Assurance Services (IFAAS) of the United Kingdom, and INCEIF University of Malaysia, along with presidents and chief executive officers of leading banks. Senior Meezan Bank officials, including Dr. Muhammad Imran Ashraf Usmani and Sheikh Esam Mohamed Ishaq, members of the bank’s Shariah Board, State Bank of Pakistan officials, academics, faculty members, students and banking and FinTech professionals also attended. Imaan Hunaid Lakhani, daughter of the late Hunaid Lakhani, was among the guests.
Her participation reflected support for Iqra University’s efforts to promote innovation and industry collaboration through the Centre for Excellence in Islamic FinTech.
In his welcome address, Prof. Dr. Nassar Ikram said the centre reflected the university’s commitment to advancing knowledge, innovation and industry relevance in emerging fields of finance and technology. He said the collaboration with Meezan Bank would help strengthen the future of Islamic FinTech in Pakistan.
He added that the establishment of the centre reflected the university’s vision of connecting academia with industry, encouraging research-driven solutions and preparing students and professionals for the changing demands of the global financial sector.
Meezan Bank President and Chief Executive Officer Dr. Syed Amir Ali delivered the keynote address, outlining the bank’s vision for the centre and its role in promoting Shariah-compliant innovation, skills development and financial inclusion. He said Pakistan needed a strong Islamic FinTech ecosystem capable of combining technological advancement with sustainable economic growth.
Muhammad Farhan Ul Haq Usmani, Honorary Director of IU CEIF, presented an overview of the centre’s objectives, strategic direction and planned initiatives. An introductory video highlighted its focus on research, training, industry engagement and innovation.
A panel discussion involving representatives from international academia, the banking industry and the FinTech sector examined opportunities and challenges facing the development of Islamic financial technology in Pakistan. Participants discussed regulation, financial inclusion, talent development and digital transformation.
The ceremony concluded with the presentation of souvenirs, group photographs and a ribbon-cutting ceremony marking the inauguration of the centre. Guests were also taken on a tour of the newly established FinTech Lounge.
Meezan Bank and Iqra University said the centre would serve as a platform for research, industry engagement, innovation and capacity building to support the long-term growth of Pakistan’s Islamic finance and FinTech sectors.