KARACHI: The 6th AlBaraka Forum Regional Conference, titled “Islamic Economy in the Digital Age: Innovation within the Framework of Compliance,” was held at the Pearl Continental Hotel in Karachi, bringing together senior policymakers, financial leaders, scholars, regulators, and industry experts to discuss the rapid transformation of the digital economy and its alignment with Islamic finance principles.
Organized by the AlBaraka Forum for Islamic Economy in collaboration with the Islamic Chamber of Commerce and Development, the conference served as a high-level platform for dialogue on digital transformation, financial innovation, and institutional governance within the Islamic economy.
Addressing attendees, H.E. Mr. Jameel Ahmad, Governor of the State Bank of Pakistan, highlighted the ongoing transformation of the global financial system, stating that instant payment platforms, evolving distribution models, and artificial intelligence are now operational realities. He noted that over 70% of people worldwide use digital financial services, while more than 80% are willing to transition to digital systems, reflecting a fundamental shift in consumer behavior.
The conference featured panels on Digital Islamic Banking, the Future of Islamic Investment, Shari’ah Compliance and Governance, Waqf and Zakah, Digital Disruption, and Pakistan’s strategic position as a leading Islamic economy in Asia.
In his opening remarks, Mr. Yousef Hassan Khalawi, Secretary General of the AlBaraka Forum for Islamic Economy, emphasized the importance of aligning digital innovation with Islamic finance principles. He stated that effective integration of Islamic finance into the digital economy will allow it to progress alongside conventional banking, with governance, compliance, and institutional integrity as key differentiators.
Mr. Khalawi further noted that the challenge is no longer whether the Islamic economy can be digitalized, but how the transformation is managed. Sustainable digital Islamic finance requires strong institutional frameworks and active engagement of scholars, regulators, and industry leaders to ensure innovation remains Shari’ah-compliant and supports long-term economic stability.
During the conference, H.E. Mr. Jameel Ahmad was presented with an AlBaraka Forum Honorary Trophy in recognition of his leadership and contributions to Pakistan’s financial and regulatory development. AlBaraka Bank Pakistan, as the Platinum Sponsor of the conference, also received a commemorative trophy, accepted by CEO Muhammad Atif Hanif, who remarked that integrating digital solutions with Islamic finance principles allows broader engagement and a more inclusive financial system.
The conference premiered a documentary titled “Islamic Economy and the Advancement of Digitalization Across Asia – The Pakistan Experience,” highlighting Pakistan’s evolving role in shaping the regional digital Islamic economy, with a focus on financial inclusion, digital innovation, and institutional governance.
Concluding the event, participants called for a transparent and integrated framework for digital Islamic banking, stronger coordination among banks, Shari’ah boards, and regulators, and reinforced Pakistan’s position as a regional reference model for a stable and inclusive digital Islamic economy.
The conference saw the participation of senior leaders including H.E. Mr. Zafar Masud, Chairman of the Pakistan Banks’ Association; H.E. Mr. Muhammad Nassir Salim, CEO of HBL; Mr. Mohammad Shoaib, CEO of Lucky Investments Limited; H.E. Mufti Dr. Irshad Ahmad Aijaz, Chairman of the Shari’ah Advisory Committee at SBP; and H.E. Dr. Umar A. Oseni, Secretary General of the OIC Arbitration Centre, underscoring the event’s high-level institutional, regulatory, and scholarly significance.
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