Meezan Bank, TKBB Sign MOU to Advance Islamic Fnance

Islamic banking follows Shariah principles, prohibiting interest and promoting ethical finance. Its benefits include ethical investments, risk-sharing, financial stability, asset-backed transactions, and greater financial inclusion.

Meezan Bank Limited, Pakistan’s leading Islamic bank, has signed a Memorandum of Understanding (MoU) with the Participation Banks Association of Türkiye (TKBB) to strengthen international cooperation in Islamic finance. This collaboration aims to drive innovation, knowledge sharing, and capacity building in the sector.

The MoU was exchanged during Turkish President H.E. Recep Tayyip Erdogan’s official visit to Pakistan at a high-level ceremony held at the Prime Minister’s House. The event was attended by Prime Minister Shehbaz Sharif, President Erdogan, and senior delegates from both countries.

Mr. Ahmed Ali Siddiqui, Group Head Shariah Compliance at Meezan Bank, and Mr. İsmail VURAL, Secretary General of Participation Banks Association, formalized the agreement. This strategic partnership focuses on enhancing cross-border collaboration in Islamic banking through capacity building, knowledge exchange, and operational excellence.