NdcTech, a Systems Limited Company, in collaboration with Temenos hosted a groundbreaking Islamic banking conference at a local hotel the other day. The conference garnered significant attention from the banking industry, featuring the participation of esteemed professionals, executives from prominent banks and representatives from the State Bank of Pakistan (SBP).
Islamic banking in Pakistan has experienced remarkable growth, with assets totaling over Rs 6 trillion and deposits reaching Rs 5 trillion in 2022. This growth trend is further accelerated with the issue of SBP’s mandate for all banks in Pakistan to enhance their Islamic banking footprint across the country.
In light of this development, this seminar featured keynotes by Ammara Masood (CEO of NdcTech), William Moroney (Managing Director MEA at Temenos), and Ghulam Muhammad Abbasi (Director Islamic Finance Policy at the SBP), offering valuable insights into the Islamic banking industry’s landscape and prospects.
The conference also featured an engaging fireside chat with Meezan Bank, the largest Islamic bank in Pakistan. The session highlighted Meezan Bank’s remarkable journey and provided valuable insights into the strategies adopted by Meezan Bank to drive digital transformation.
On this occasion, Ali Imran, Deputy CIO, Meezan Bank shared that “Innovation & Technology play a crucial role for success of any bank, which is why we have partnered with technology providers like Temenos and implementation partner NdcTech, enabling us to launch innovative Islamic products and achieve phenomenal growth”.
A highly anticipated panel discussion featured speakers from HBL, Faysal Bank, and SBP. The panelists delved into the journey of their institutions in the Islamic banking sector. One of the key aspects discussed was the significance of capacity building and awareness creation for Islamic Banking.
The speakers shed light on the efforts taken by SBP as well as Banks’ internal Learning & Development teams to increase awareness and train professionals for the Islamic Banking industry.
Nassir Saleem, Head of Branch Banking & Acting Head Islamic Banking, HBL said: “Given that we are in the midst of conversion to Islamic Banks, we collectively cannot overstress enough on how critical structure and capacity building is for this journey”.
The conference was hailed as a one-of-a-kind event, emphasizing on the crucial role of technology, innovation, and collaboration in driving the growth and sustainability in Islamic banking. By bringing together leading professionals, regulators, and technology providers, the conference laid the groundwork for a vibrant and thriving Islamic banking ecosystem in Pakistan.—Agencies
