Today, the Institute of Business Administration (IBA) in Karachi witnessed the culmination of the prestigious Meezan Justuju Islamic Finance Talent Development Program with a grand graduation ceremony. Dr. Ishrat Hussain, Chairman of IBA CEIF (Centre of Excellence in Islamic Finance) and former Governor of the State Bank of Pakistan, graced the occasion as Chief Guest. Also present were Mr. Irfan Siddiqui, Founding President & CEO of Meezan Bank, Syed Amir Ali, Deputy CEO of Meezan Bank, and Mr. Ahmed Ali Siddiqui, Director of IBA CEIF and Group Head of Shariah Compliance at Meezan Bank.
The Islamic banking sector in Pakistan has reported significant growth, achieving a Profit before Tax exceeding PKR 393.4 billion in the August to December quarter of 2023. With over 5,000 branches and an asset base exceeding PKR 9 trillion, Islamic finance is not only outpacing conventional banking but also gaining global prominence for its alignment with responsible investing principles. The Federal Shariah Court’s directive for a complete transition to Islamic finance by 2027 underscores the critical need for specialized training in this sector.
Dr. Ishrat Hussain commended the program participants and stressed the importance of equipping youth with relevant skills amid evolving economic frameworks. “As Pakistan moves towards a full Islamic finance system by 2027, there is a growing demand for skilled professionals in the Islamic finance sector,” he noted.
Mr. Irfan Siddiqui emphasized Meezan Bank’s commitment to nurturing talent and advancing Islamic finance in Pakistan through initiatives like Meezan Justuju.
“Our collaboration with IBA CEIF reflects Meezan Bank’s dedication to fostering talent and driving the growth of Islamic finance in Pakistan. By investing in education and training, we aim to bolster the Islamic banking industry,” he affirmed.
Highlighting the surge in demand for trained resources in Pakistan’s Islamic banking sector, Mr. Ahmed Ali Siddiqui underscored the program’s role in bridging the skills gap.
“With nearly 5,000 Islamic banking branches established nationwide, there is a substantial need for skilled Islamic bankers. Meezan Justuju represents a significant partnership between academia and industry, empowering professionals to contribute effectively to the financial system,” he remarked.
Syed Amir Ali pointed out Pakistan’s demographic advantage and the program’s role in enhancing youth participation in the economy. “Pakistan, with its youthful population, holds immense potential. However, female workforce participation remains low. Programs like Meezan Justuju offer crucial opportunities for upskilling and economic contribution,” he noted.
The ceremony celebrated the accomplishments of program participants, who received certificates marking their completion of the rigorous training. Recruiters were also present to identify talent for roles within the Islamic finance sector.
About Meezan Justuju:
Meezan Justuju, a fully funded initiative by Meezan Bank in collaboration with IBA-CEIF, aims to equip fresh graduates with comprehensive knowledge and expertise in Islamic banking and finance. This program prepares participants for rewarding careers in Pakistan’s rapidly growing Islamic Banking Industry (IBI).