PESHAWAR: In a strategic move to promote financial literacy and support the development of Islamic banking, the State Bank of Pakistan Banking Services Corporation (SBP BSC), Dera Ismail Khan, and Gomal University have signed a Memorandum of Understanding (MoU). This partnership aims to enhance financial cooperation and pave the way for the introduction of specialized banking courses at the university.
The MoU was formally signed by Roman Ali, the Chief Manager of SBP BSC, and Zahid Shah Marwat, the Registrar of Gomal University. The agreement represents a significant step towards fostering the development of Islamic banking education in Pakistan, with the ultimate goal of boosting financial literacy in the region.
Under the terms of this collaboration, SBP BSC will play a pivotal role in assisting Gomal University in the introduction of specialized academic programs focused on Islamic banking. This includes the launch of a comprehensive Diploma in Islamic Banking, as well as the initiation of a Bachelor’s degree program in the same field. The partnership is expected to provide students with valuable skills and knowledge related to Islamic financial systems, opening doors to new career opportunities in the growing sector.
Islamic banking has seen a rapid rise in popularity in Pakistan, driven by the demand for Sharia-compliant financial services. As the industry continues to expand, there is an increasing need for qualified professionals with expertise in Islamic finance. The MoU between SBP BSC and Gomal University aims to address this gap by equipping students with the necessary academic training to excel in the industry.
By introducing these specialized programs, the collaboration between SBP BSC and Gomal University also seeks to promote financial literacy in the region, empowering individuals with a better understanding of Islamic finance and its relevance to the broader financial ecosystem. This will help foster a more inclusive financial environment in the country and contribute to the sustainable development of the Islamic banking sector.
Roman Ali, Chief Manager of SBP BSC, expressed his excitement about the partnership, highlighting the importance of aligning education with the growing demand for Islamic financial services in Pakistan. “We are committed to supporting educational initiatives that enhance financial literacy and strengthen the Islamic banking sector,” he said. “This collaboration will play a key role in nurturing the next generation of professionals who will contribute to the growth of this important industry.”
Zahid Shah Marwat, Registrar of Gomal University, also shared his enthusiasm for the initiative, emphasizing the potential impact of the new courses on the students and the community. “We are proud to collaborate with SBP BSC to offer specialized programs that will not only help students build a strong foundation in Islamic banking but also contribute to the financial sector’s development in the region,” he said.
The MoU signing comes at a time when the demand for Islamic financial products and services is on the rise globally. The partnership between SBP BSC and Gomal University is expected to significantly contribute to the development of skilled professionals in the Islamic banking sector, ensuring that Pakistan remains competitive in this rapidly growing global market.
This collaboration marks a major milestone in the relationship between the financial sector and academia, with the ultimate goal of advancing knowledge and promoting innovation in the field of Islamic banking. As the partnership moves forward, both SBP BSC and Gomal University are set to play an instrumental role in shaping the future of Islamic finance education in Pakistan.