07 November 2016
In order to create awareness of Islamic Banking & Finance practices in the legal fraternity especially among Judiciary in the country, a Memorandum of Understanding has been signed between Centre for Excellence in Islamic Finance, Institute of Business Administration and Sindh Judicial Academy on Friday, 4th November 2016. Dr. Farrukh Iqbal, Dean and Director, IBA welcomed the delegates of Sindh Judicial Academy at the Centre for Excellence in Islamic Finance, IBA. The MOU was signed between Hon’ble Justice (R) Syed Ali Aslam Jafri, Director General, Sindh Judicial Academy and Mr. Ahmed Ali Siddiqui, Director, IBA CEIF.
This MoU signified a strategic step towards promotion of Islamic Finance in the country where both institutions will work jointly to educate legal fraternity about Islamic Banking practices by conducting specialized training sessions and workshops on Islamic Finance concepts, products and litigation issues faced by the industry. As part of this MoU, a specialized research project will be undertaken to prepare policy papers for streamlining the legal and procedural issues relevant to Islamic Financing in Pakistan.
Speaking on the occasion Justice (R) Ali Aslam Jafri and Dr. Farrukh Iqbal both felt that this would give the industry a “push” in the right direction, seeing how the Islamic Banking industry is growing constantly. Justice (Retd.) Dr. Qamruddin Bohra and Mr. Shahid Shafiq, senior faculty members from the Judicial Academy and Dr. Faiza Ismail, Research consultant for IBA CEIF were also present on the occasion.