Pakistan Paving Way for Islamic Financial Ecosystem: SECP Chief

Pakistan, through holding the international Islamic capital market conference, is paving the way to transition into 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 that started in Karachi today.

The Central Depository Company of Pakistan Limited (CDC), Pakistan Stock Exchange (PSX), and National Clearing Company of Pakistan Limited (NCCPL) proudly hosted a grand welcome dinner in honor of the esteemed delegates and speakers attending the Second International Islamic Capital Markets Conference and Expo.

In his welcome address, SECP Chairman Mr. Akif Saeed emphasized the remarkable progress of Pakistan’s Islamic finance industry and highlighted SECP’s pivotal role, alongside strategic partners such as CDC, PSX, and NCCPL, in promoting Shariah-compliant financial practices and fostering collaboration with international players.

Mr. Saeed remarked, “With initiatives like this conference, we are paving the way for Pakistan to transition into a sustainable, equitable, and interest-free financial ecosystem.”.

The Chief Guest, Shaikh Ebrahim Bin Khalifa Al-Khalifa, Chairman 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.

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

The Second International Islamic Capital Market Conference and Expo, organized under the auspices of SECP, represents a landmark effort to position Pakistan as a leader in Islamic finance.

Under the theme ‘From Tech Transformation to Realizing Sustainability: Building an Inclusive Islamic Capital Market,’ the conference will address critical challenges and opportunities in building a resilient, inclusive, and sustainable Islamic capital market.

More than 20 distinguished international experts and policymakers from various countries – including Bahrain, Saudi Arabia, Nigeria, Malaysia, Türkiye, Oman, Iran, and the United Kingdom will attend.

In addition to the main conference, several events will take place, including pre-conference workshops and an Islamic Finance Exhibition featuring 38 leading institutions.