BankIslami has signed a Memorandum of Understanding (MoU) with the National Clearing Company of Pakistan Limited (NCCPL) to strengthen the presence of Islamic finance in the country’s capital markets. This collaboration aims to introduce innovative, Shariah-compliant financial solutions, creating new opportunities for investors seeking Riba-free financial solutions.
This partnership combines BankIslami’s expertise in Islamic finance with NCCPL’s technological and infrastructural capabilities. The MOU was signed during a signing ceremony held at BankIslami’s headquarters in Karachi, in the presence of senior representatives from both entities.
Speaking on the occasion, Rizwan Ata, President and CEO of BankIslami, said: “Through this partnership, we take a step towards making Pakistan’s capital markets more accessible by offering robust, interest-free financial solutions. Our objective is to encourage wider participation and create greater investment opportunities for all.”
Naveed Qazi, CEO of NCCPL, commented: “Our collaboration with BankIslami marks a step forward in advancing Shariah-compliant solutions within Pakistan’s capital market. We are confident this collaboration will create opportunities for greater accessibility, inclusivity, and investor trust.”
The MoU will benefit a wide range of customers, looking for Shariah-compliant investment avenues. Customers will gain access to Islamic financial instruments such as equities and debt securities through a strong and trusted platform. For NCCPL, the partnership enables further expansion of its infrastructure while aligning with Islamic financial principles.
Aligned with its mission of Saving Humanity from Riba, BankIslami will continue to work closely with NCCPL to deliver practical solutions that support the long-term growth of the financial sector and strengthen the role of Islamic finance in Pakistan.
