NED University of Engineering and Technology, through its Centre for Islamic Finance and FinTech (CIFFT NEDUET), held discussions with the State Bank of Pakistan (SBP) on strengthening collaboration in Islamic finance, FinTech, entrepreneurship, research, data, innovation and talent development. The meeting brought together the Deputy Governor of SBP and representatives from the Islamic Finance Development Department, Digital Financial Services Group, and Digital Innovation and Settlements Department.
The discussions focused on opportunities to build stronger links between academia and the financial sector regulator as Pakistan’s financial ecosystem continues to develop. The proposed areas of collaboration cover both established areas of finance and emerging technology-driven activities, with an emphasis on research, knowledge development and the preparation of skilled professionals for the changing financial services market.
Entrepreneurship and innovation were among the key areas discussed during the meeting. The participants highlighted the opportunity for academic research and knowledge to contribute to the development of future entrepreneurs, innovative financial products and technology-driven ventures. Greater interaction between academic institutions and financial sector stakeholders could provide students and researchers with better exposure to practical challenges and emerging opportunities in financial technology.
The discussions also covered the potential development of a structured and recurring FinTech research and data initiative focused on Pakistan’s evolving financial technology ecosystem. Such an initiative could generate evidence and research on areas including digital payments, financial technology adoption, Islamic FinTech demand and consumer perceptions.
Other proposed areas of research include consumer trust, risks and protection, emerging FinTech business models, innovation, regulatory and policy developments, entrepreneurship and ecosystem development. Human capital and future skills were also identified as areas where research could help assess the changing requirements of Pakistan’s financial and technology sectors.
Digital payments and financial technology adoption have become increasingly important as banks, fintech companies and other financial institutions expand digital services. Research focused on adoption patterns could provide greater insight into how consumers and businesses use these services, while studies on trust and consumer protection could help identify challenges associated with the wider use of digital financial products.
Islamic finance and Islamic FinTech also formed part of the proposed areas of collaboration. Research into demand and consumer perceptions could help institutions better understand opportunities and challenges within the segment. The involvement of academic researchers and regulatory stakeholders could also support the development of evidence-based discussions around financial innovation and regulatory policy.
The meeting further highlighted the importance of collaboration between regulators, academia, industry and entrepreneurs. These groups have different roles within the financial ecosystem, and closer coordination can provide opportunities to connect academic research with industry requirements, regulatory considerations and entrepreneurial activity.
For CIFFT NEDUET, the discussions represent an expansion of its institutional focus beyond awareness, training and dialogue toward research, evidence generation, entrepreneurship, talent development and policy engagement. A stronger research and data component could provide a foundation for examining developments within Pakistan’s FinTech and Islamic finance sectors on a continuing basis.
The proposed collaboration also places human capital development alongside technology and financial innovation. As financial services become increasingly digital, demand for professionals with expertise across finance, technology, data, regulation and entrepreneurship is expected to grow. Greater cooperation between universities and financial sector institutions can help align academic programmes and research with evolving industry requirements.
The discussions between NED University, CIFFT NEDUET and SBP therefore covered a broad range of areas linked to Pakistan’s financial technology ecosystem. The proposed initiatives include research and data generation, entrepreneurship, Islamic finance, digital financial services, innovation, consumer protection and future skills, reflecting an effort to strengthen connections between academic knowledge and financial sector development.
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