Meezan Bank, Pakistan’s first and largest Islamic bank has recently signed an MoU with Al-Sadiq Consulting Ltd to explore opportunities for Islamic finance in China-Pakistan Economic Corridor (CPEC). The agreement focuses on the ever-increasing economic participation between Pakistan and China and the opportunities that may be derived from improved Islamic banking channels between the two countries.
The MoU was signed by Mr. Irfan Siddiqui, President & CEO – Meezan Bank and Mr. Ibrahim Ding, Managing Director and Senior Partner – Al-Sadiq Consulting at Meezan Bank’s Head Office, Karachi. As per the MoU, the two parties have expressed a strong commitment to the continued growth of Islamic finance – collaborating on the research and identification of a series of projects in the public and private sector of the country, with specific focus on infrastructure and industrial development. Meezan Bank has also expressed interest in providing financial, advisory and Shariah-related services to such and similar projects and transactions in collaboration with Al-Sadiq Consultancy.
Mr. Irfan Siddiqui, President & CEO – Meezan Bank welcomed the enthusiasm of the Chinese experts/delegate and said, “We are extremely confident that our new partnership with Al-Sadiq Consulting Ltd, China’s first Islamic finance consultancy company will successfully be able to drive more advantages for Islamic finance in the near future. This collaboration will strengthen Meezan Bank’s close ties with China and various foreign stakeholders by connecting to the Bank’s largest local network of Islamic finance in the country.”