Meezan Bank signs MoU with TKBB to advance Islamic finance

KARACHI: Meezan Bank and the Participation Banks Association of Turkiye, or Turkiye Katilim Bankalari Birligi (TKBB), have signed a memorandum of understanding (MoU) to drive innovation, knowledge sharing and capacity building in Islamic finance.

“The MoU was exchanged during the official state visit of Turkish President Recep Tayyip Erdogan to Pakistan in a high-level ceremony at the Prime Minister’s House”, Meezan Bank said in a statement on Wednesday.

This partnership seeks to boost cross-border cooperation in Islamic banking by focusing on three key areas: capacity building, knowledge exchange and operational excellence. The two organisations agreed to introduce joint training programmes related to Sharia governance, Sukuk structuring, regulatory compliance, collaborative platforms for sharing expertise in the fields of product development, digital transformation, fintech solutions and strategy exchanges to enhance talent and innovation.

Ismail Vural, secretary general of TKBB, said, “We are pleased to cooperate under this MoU with Meezan Bank, which has made significant contributions to the development of the Islamic finance industry on a local and international scale with its long-standing history and prior activities. Collaboration in the areas of training, capacity building and technical expertise is essential for ensuring the healthy and sustainable growth of the sector”.

Group Head of Sharia Compliance at Meezan Bank Ahmed Ali Siddiqui said, “By leveraging collective expertise, both institutions aim to promote ethical banking practices, drive financial inclusion, and support the global growth of Islamic finance”.