The Securities and Exchange Commission of Pakistan (SECP) has explored opportunities for collaboration with Saylani Welfare International Trust to promote Islamic finance, improve financial literacy and expand financial inclusion across the country. The engagement reflects the regulator’s continued focus on increasing public awareness of Shariah-compliant financial products and supporting the development of an inclusive financial system in Pakistan.
Mr. Imtiaz Haider, Commissioner at the SECP, visited the head office of Saylani Welfare International Trust, where he met with the organisation’s Chairman, Maulana Bashir Farooqi. The meeting provided an opportunity for both sides to discuss areas of mutual interest and identify potential avenues for cooperation in promoting financial awareness and improving access to financial services, particularly those operating under Islamic financial principles.
During the meeting, Mr. Haider highlighted the SECP’s commitment to encouraging the adoption of Shariah-compliant financial solutions and making these services more accessible to different segments of society. He emphasised the importance of public awareness in helping individuals understand available Islamic financial products, their underlying principles and the opportunities they offer. Greater awareness is considered an important part of expanding participation in formal financial services, particularly among individuals and communities that have limited exposure to structured financial products.
The discussions also focused on the role of financial literacy in strengthening financial inclusion. Improving people’s understanding of savings, investments and financial planning can help them make informed decisions about managing their money and accessing available financial services. In this context, collaboration between regulatory institutions and organisations with established community outreach networks could provide opportunities to reach a wider audience and introduce financial education initiatives to people who may otherwise have limited access to such information.
Islamic finance was another central area of discussion, particularly in relation to Pakistan’s efforts to move towards a Riba-free economy. The SECP has continued to highlight the importance of developing financial products and services that comply with Shariah principles while meeting the needs of individuals, businesses and investors. Expanding public understanding of these solutions could contribute to wider participation in Islamic financial services and support the development of a financial system that accommodates different preferences and requirements.
Mr. Haider also appreciated Saylani Welfare International Trust for its contribution to social welfare and youth empowerment. The organisation’s work in supporting communities and providing opportunities for young people was acknowledged during the engagement. Its outreach and social development activities were discussed in the context of potential cooperation to promote financial awareness and improve access to information about Islamic financial solutions.
Reaffirming the SECP’s position on the development of Islamic finance, Mr. Haider stated the commission’s resolve to support Pakistan’s transition towards a Riba-free economy. He also emphasised the need for a robust, inclusive and Shariah-compliant financial system that can serve the requirements of different sections of society. The regulator’s approach includes encouraging awareness, supporting the availability of Islamic financial solutions and promoting an environment in which individuals can access financial services aligned with their requirements.
The engagement between the SECP and Saylani Welfare International Trust highlights the potential role of cooperation between regulatory institutions and social welfare organisations in advancing financial inclusion. While regulatory reforms and the development of financial products remain important, public understanding and accessibility are also necessary for wider adoption of formal financial services. Collaboration in financial literacy and Islamic finance awareness could help connect these objectives with communities across Pakistan.
As Pakistan continues its efforts to develop a Shariah-compliant financial system, initiatives involving financial regulators and organisations with established public outreach may contribute to greater awareness and participation. The SECP’s engagement with Saylani Welfare International Trust reflects its focus on Islamic finance, financial education and broader access to financial services as part of the country’s transition towards a Riba-free economy.
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