The University of Karachi (KU) and the Meezan Bank Limited have recently inked a memorandum of understanding (MoU) which aims at bolstering the capacity building of faculty members of the varsity in Islamic banking with a primary focus on fostering knowledge and expertise in the specialised domain.
KU Vice Chancellor (VC) Prof Dr Khalid Mahmood Iraqi and Meezan Bank Executive Vice President and Head of Shariah Audit Muhammad Farhan ul Haq Usmani signed the MoU documents at the VC Secretariat.
As per the terms of the MoU, the Islamic bank has pledged to provide financial support to the KU for capacity-building initiatives specifically designed for faculty members.
The primary objective of the MoU is to empower faculty members with a comprehensive understanding of Islamic banking principles, practices and emerging trends. This partnership aims at equipping them with up-to-date knowledge and specialised skills, raising the standards of education and research in Islamic banking.
On the occasion, Usmani remarked that the strategic partnership would lay the foundation for collaborative efforts of both the institutions in promoting Islamic banking in the country. He mentioned that through this formal agreement, the KU and the Meezan Bank had demonstrated their shared commitment to promoting Islamic banking education and facilitating the growth of the Islamic finance sector.
The KU VC said he was delighted to forge the collaborative partnership with the Meezan Bank for the promotion of Islamic banking. He mentioned that this significant collaboration underlined the shared dedication of the two institutions to advancing Islamic banking education and nurturing a highly skilled faculty.
The KU Director Office of Research, Innovation and Commercialisation Prof Dr Bilquess Gul said the MoU signified a significant step in fostering academia-industry collaboration.
She mentioned that the bank was recognised for its expertise in Islamic finance and unwavering commitment to Shariah-compliant practices, and it also acknowledged the pivotal role played by academic institutions in cultivating talent and driving industry growth.