SECP chief highlights Pakistan role in Islamic finance ecosystem

KARACHI: Pakistan, by hosting the international Islamic capital market conference, is paving the way for a transition towards a sustainable, equitable and interest-free financial ecosystem.

This was stated by SECP Chairman Akif Saeed in his welcome address at a dinner jointly hosted by the Central Depository Company of Pakistan Limited (CDC), Pakistan Stock Exchange (PSX) and National Clearing Company of Pakistan Limited (NCCPL) for the delegates and speakers of the Second International Islamic Capital Markets Conference and Expo.

Saeed discussed the remarkable progress of Pakistan’s Islamic finance industry and highlighted the SECP’s pivotal role, alongside strategic partners such as CDC, PSX, and NCCPL, in promoting Sharia-compliant financial practices and fostering collaboration with international players.

Chief Guest Shaikh Ebrahim Bin Khalifa Al-Khalifa, chairperson of the Board of Trustees of the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI) and the founding chairman of Meezan Bank, commended Pakistan’s dedication to advancing Islamic finance.

He inspired the audience with his insights on AAOIFI’s global efforts in developing standards for the Islamic finance industry and leveraging these achievements to further promote ethical and Sharia-compliant financial practices worldwide.

CEO of the CDC and Chairman of the Asia-Pacific Central Securities Depository Group (ACG) Badiuddin Akber, CEO of the PSX Farrukh Sabzwari, and Acting CEO of NCCPL Imran Ahmed Khan presented traditional souvenirs to the conference’s distinguished speakers.