Karachi, December 12, 2015: Meezan Bank, Pakistan’s largest Islamic Bank, and Lahore University of Management Sciences (LUMS), Pakistan’s leading private university with international repute, recently announced the signing of a Memorandum of Understanding (MoU) that will help foster the learning and development of Islamic Banking and Finance across the country. The MoU focuses on robust collaboration on various joint activities including development and launch of training programs on Islamic Banking and finance, co-authorship of case studies and research papers, and participation of Meezan Bank employees as guest speakers in executive programs at LUMS.
Mr. Irfan Siddiqui, President & CEO of Meezan Bank termed the signing of this MoU as an important step in the promulgation of the Islamic financial system in the country and said, “Meezan Bank and LUMS have both played an instrumental role in the growth of their respective industries and believe in the betterment of society through ethical practices, coupled with a great commercial sense. This MoU will benefit from the synergy of Meezan Bank’s expertise in Islamic finance and LUMS’ academic capability and outreach, thus promoting Islamic banking awareness and market development.”
The MoU serves as a foundation for knowledge generation regarding Islamic Banking, promoting research and awareness and creating a host of job opportunities through Meezan Bank’s career fairs arranged by LUMS in order to increase graduates’ participation in the booming Islamic banking industry. Meezan Bank and LUMS will also collaborate on designing and offering in-house customized executive development programs for Meezan Bank Officers. As per this MoU Meezan Bank will also serve as a strategic partner of the Islamic Finance Center at LUMS, encouraging and assisting the establishment of ‘Center for Excellence in Islamic Finance’.