Bank Alfalah partners with Centre for Islamic Economics to help improve understanding of Islamic Banking in Pakistan

Karachi, February 12, 2015 (PPI-OT): Bank Alfalah recently signed an agreement with the Centre for Islamic Economics (CIE) – one of the most distinguished academic institutions of Jamia Darul Uloom Karachi – for building capacity of the Bank’s human resources and customers on Islamic Banking. Under the partnership, key learning programmes developed by the Bank will be vetted by the Centre for Islamic Economics.

Under this first-of-its-kind arrangement between a Bank and CIE in Pakistan, seminars and learning programmes will also be developed and implemented across the country. Speaking on the occasion, Dr. Imran Usmani, one of the most eminent Shariah Scholars in the Islamic banking industry and a Member of the Executive Committee, CIE said that “Bank AlFalah has shown unprecedented progress in the development of human capital by introducing customized learning programmes on Islamic Banking for its internal and external customers”.

Mr. Bahauddin Khan, Chief Operating Officer, Bank Alfalah said “We look forward to working closely with the Centre for Islamic Economics and using their expertise to develop new learning modules and programmes that improve the understanding of Islamic banking for our staff and customers.”

Awareness and education about Islamic Banking and Finance has been recognized as a key challenge by the State Bank of Pakistan. SBP has recently launched a media campaign to create awareness and improve visibility of Islamic Banking in the country.

Bank Alfalah’s partnership with the Centre of Islamic Economics is expected to play an instrumental role in driving SBP’s initiative to help develop a better understanding about Islamic Banking and Finance, and also to eradicate the misconception associated with Islamic banking. With a network of 157 Islamic Banking branches across Pakistan, Bank Alfalah’s Islamic Banking Group remains the second largest Islamic Banking offering in the country.

For more information, contact:
Salimah Shiraj,
Head of Corporate Communications
Bank Alfalah Limited
2nd Floor, B.A Building, I.I Chundrigarh Road,
Karachi, Pakistan
Tel: (+92-21) 111-777-786 Ext 2638
Tel: (+92-21) 32423952

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