Centre for Excellence in Islamic FinTech established by Meezan Bank at Iqra University

Meezan Bank, Pakistan’s leading Islamic bank and one of the country’s largest banks, has established the IU Centre for Excellence in Islamic FinTech (IU CEIF) at Iqra University in strategic collaboration with the University.

The Centre was inaugurated at a ceremony held at the University Auditorium, EDC Defence Campus, Karachi. The inauguration ceremony was graced by Mr. Saleem Ullah, Deputy Governor, State Bank of Pakistan, as the Chief Guest.

Addressing the ceremony, Chief Guest Mr. Saleem Ullah commended the collaboration between Iqra University and Meezan Bank and reaffirmed the State Bank of Pakistan’s support for initiatives that strengthen Islamic finance, promote responsible innovation, and expand financial inclusion.

The Centre has been established as a hub for research, innovation, industry collaboration, and capacity-building at the intersection of Islamic finance and financial technology. It is designed to support Pakistan’s growing Islamic finance and FinTech ecosystem by promoting Shariah-compliant financial innovation and building future-ready capabilities.

The event was hosted by Prof. Dr. Nassar Ikram, Vice Chancellor, Iqra University, and Mr. Muhammad Farhan Ul Haq Usmani, Honorary Director, IU CEIF.

The ceremony was attended by international guests from the General Council for Islamic Banks and Financial Institutions (CIBAFI), Bahrain; Islamic Finance Advisory and Assurance Services (IFAAS), United Kingdom; and INCEIF University – International Centre for Education in Islamic Finance, Malaysia, along with presidents and CEOs of leading banks, senior representatives of Meezan Bank, including Dr. Muhammad Imran Ashraf Usmani and Sheikh Esam Mohamed Ishaq, Members of the Shariah Board of Meezan Bank, officials from the State Bank of Pakistan, members of academia, faculty, students, and professionals from the banking and FinTech sectors. Ms. Imaan Hunaid Lakhani, daughter of the late Mr. Hunaid Lakhani, also graced the occasion and interacted with the Meezan Bank team and distinguished guests.

Her engagement reflected her support for Iqra University’s vision for innovation and industry collaboration through the Centre of Excellence in Islamic FinTech.

In his welcome address, Prof. Dr. Nassar Ikram said that the Centre reflects Iqra University’s commitment to advancing knowledge, innovation, and industry relevance in emerging areas of finance and technology. He noted that the collaboration with Meezan Bank would help strengthen the future of Islamic FinTech in Pakistan.

He further stated that the establishment of the IU Centre for Excellence in Islamic FinTech reflects the University’s vision of creating platforms that connect academia with industry, encourage research-led solutions, and prepare students and professionals for the evolving demands of the global financial landscape.

Meezan Bank’s President and CEO, Dr. Syed Amir Ali, delivered the keynote address, sharing the Bank’s vision for the Centre and its role in promoting Shariah-compliant innovation, skills development, and financial inclusion. He emphasized the need for a robust Islamic FinTech ecosystem that combines technological advancement with sustainable economic growth.

Mr. Muhammad Farhan Ul Haq Usmani, Honorary Director, IU CEIF, presented an overview of the Centre’s objectives, strategic direction, and planned initiatives. An introductory video highlighted the Centre’s focus on research, training, industry engagement, and innovation.

A panel discussion featuring senior representatives from international academia, banking, and the FinTech industry explored opportunities and challenges in advancing Islamic financial technology in Pakistan. Key areas of discussion included regulation, financial inclusion, talent development, and digital transformation.

The ceremony concluded with the presentation of souvenirs, group photographs, and the formal ribbon-cutting ceremony to mark the inauguration of the Centre. Guests were also given a tour of the newly established FinTech Lounge.

Through IU CEIF, Meezan Bank and Iqra University aim to create a platform for research, industry engagement, innovation, and capacity-building, contributing to the long-term development of Pakistan’s Islamic finance and FinTech landscape.