In a landmark collaboration, ZLK Islamic Financial Services, Pakistan’s premier Shariah-compliant brokerage firm, has partnered with Dubai Islamic Bank Pakistan Limited (DIBPL), a subsidiary of the world’s first Islamic bank, Dubai Islamic Bank UAE.
The partnership was formalized through a memorandum of understanding (MOU) signed by Mr. Junaid Ahmed, CEO of DIBPL, and Mr. Zahid Latif Khan, Chairman of ZLK Islamic Financial Services, at a ceremony held at DIBPL’s head office in Karachi.
This strategic alliance aims to significantly expand access to ethical and Riba-free investment opportunities for a broad range of clients, including Roshan Digital Account holders and local customers. The partnership will offer a variety of Shariah-compliant financial products, including shares, government Ijaras, Sukuk, Exchange-Traded Funds (ETFs), and Murabaha Share Financing (MSF).
The collaboration between DIBPL and ZLK Islamic Financial Services underscores both institutions’ commitment to pioneering Islamic banking solutions and promoting financial inclusion. Junaid Ahmed, CEO of DIBPL, emphasized the significance of this partnership, stating: “At DIBPL, we are committed to pioneering Islamic banking solutions. This collaboration with ZLK Islamic Financial Services highlights our dedication to expanding access to innovative financial products, promoting financial inclusion, and prosperity.”
Naveed Malik, Head of Consumer Banking at DIBPL, also shared his insights, noting that the partnership aligns perfectly with DIBPL’s vision of generating Halal Munafa (lawful profit) and expanding financial inclusion. He said, “Our collaboration with ZLK enhances our business and aligns with our vision of generating Halal Munafa and promoting financial inclusion.”
For ZLK Islamic Financial Services, this partnership represents a significant milestone in its mission to provide comprehensive Shariah-compliant brokerage services. The firm’s license as a Shariah-compliant brokerage, issued by the Securities and Exchange Commission of Pakistan (SECP), further solidifies its position as a leader in ethical financial solutions in the country.
Zahid Latif Khan, Chairman of ZLK Islamic Financial Services, expressed his enthusiasm for the partnership, stating: “This collaboration is a step forward in our journey to offer diverse and ethical investment opportunities. It allows us to serve a wider client base, providing them with trusted and Shariah-compliant financial solutions.
The partnership between ZLK Islamic Financial Services and DIBPL is expected to benefit both institutions significantly. For DIBPL, it presents an opportunity to reach new markets and streamline its operations, while ZLK Islamic Financial Services aims to enhance its brokerage services and expand its client base.
With this collaboration, both entities are set to play a pivotal role in promoting and expanding ethical and Shariah-compliant financial solutions in Pakistan, setting new standards in the industry and contributing to the nation’s economic growth.
