The Centre for Excellence in Islamic Finance (CEIF) at IBA celebrated its tenth anniversary with an event titled A Decade of Empowering Islamic Finance. The gathering highlighted a decade of growth, collaboration, and innovation in Pakistan’s Islamic finance sector. Experts, diplomats, and industry leaders discussed global trends and future opportunities for expanding Islamic finance.
A Decade of Collaboration and Sectoral Growth
Dr Irum Saba opened the event with a welcome address. She recognised the strong cooperation between Islamic banks and the centre throughout the last ten years. She also thanked partner institutions that supported the initiative. These institutions included leading Islamic banking windows and full-fledged Islamic banks operating in Pakistan.
Dr Saba noted that the centre’s progress is the result of consistent support from regulators and the banking industry.
IBA Highlights Global Recognition and Future Goals
Executive Director IBA, Dr S Akbar Zaidi, shared insights on the institution’s achievements. He said that 2025 marked a historic year for IBA, as the institute completed 70 years of excellence. He also highlighted the AACSB Accreditation earned earlier this year. This global recognition places IBA-SBS among the top accredited business schools worldwide.
Dr Zaidi discussed the growing significance of the Halal Economy and the role of Islamic finance in supporting it. He stressed the need to develop a 10-year roadmap to shape the future of IBA-CEIF. He added that deeper collaboration with the banking industry will help strengthen Islamic finance in Pakistan.
Global Trends and Regional Partnerships
The Consul General of Malaysia, His Excellency Herman Hardynata Ahmad, attended as the Guest of Honour. He congratulated the centre on completing ten impactful years. He also emphasised the shared commitment of Malaysia and Pakistan to strengthen Islamic finance for the benefit of the Muslim world.
He outlined key global trends. These included the rise of green sukuk, digital transformation in banking, the expansion of Islamic social finance, and new models that promote transparency and social welfare. He noted that these trends will shape the future of the industry.
Islamic Finance as a Driver of Future Growth
Former SBP Governor and Founding Chairman of IBA-CEIF, Dr Ishrat Hussain, also addressed the gathering. He congratulated the centre on its journey and said that Islamic finance must remain a core driver of financial growth in Pakistan. He encouraged the creation of more centres like IBA-CEIF to broaden research, capacity-building, and industry development.
He acknowledged the IBA Board’s role in supporting the initiative. He said that developing such centres is a collective effort that strengthens the financial landscape.
Strengthening the Islamic Banking Ecosystem
Saleem Ullah, Deputy Governor of the State Bank, appreciated the centre’s role in promoting Islamic finance. He said IBA-CEIF stands as a leading platform for training and thought leadership. He added that the industry must prepare for the nationwide transition to Islamic banking. He urged stakeholders to define the structure of the future Islamic economic system.
His remarks highlighted the importance of long-term planning and institutional capacity-building.
Panel Discussions and New Partnerships
A panel titled Future Trends in Global Islamic Finance and the Role of IBA-CEIF brought together industry experts. They discussed innovation, digital transformation, and global opportunities for Islamic finance.
Senior IBA officials and representatives from partner institutions also joined the event. The celebrations ended with the signing of multiple Memorandums of Understanding. These agreements were signed between IBA and leading Islamic and digital financial institutions. The partnerships aim to enhance research, training, and industry collaboration.
A Forward-Looking Milestone
The event marked a milestone in the centre’s journey. It also reinforced its commitment to supporting the evolving needs of Islamic finance in Pakistan. The new partnerships and insights shared at the event set the tone for the next decade of growth.
