Raqami Islamic Digital Bank Limited (RIDBL) has signed a Memorandum of Understanding (MoU) with the Institute of Business Management’s Center for Islamic Business & Finance (IoBM-CIBF), establishing a strategic partnership focused on talent development, knowledge exchange and innovation in Islamic finance. The collaboration brings a digital banking institution and an academic centre together with the aim of creating stronger links between education and the financial services industry.
The partnership is intended to provide students with greater opportunities to engage with the Islamic banking and financial services sector while supporting knowledge sharing between academia and industry. Through the MoU, Raqami Islamic Digital Bank and IoBM-CIBF plan to develop initiatives that can provide students with practical exposure to industry operations, research opportunities and professional development. The collaboration is also expected to contribute to the development of skills required for the evolving Islamic finance sector.
The MoU signing ceremony was attended by Umair Aijaz, Chief Executive Officer of Raqami Islamic Digital Bank Limited, Samina Malik, Chief Human Resources and General Services Support Officer, and the bank’s Head of Shariah Compliance. Representing the Institute of Business Management were Prof. Dr. Tariq Rahim Soomro, Rector of IoBM, and Prof. Dr. Imam Uddin, Associate Dean of the College of Business Management. The participation of senior representatives from both organisations underlines the institutional focus placed on the new collaboration.
A key area of the partnership will be student engagement, with the two organisations seeking to create meaningful opportunities for students to interact with the financial industry. Such initiatives can provide learners with a better understanding of how Islamic banking operates in a changing financial environment while allowing academic knowledge to be connected with practical industry requirements. The collaboration also provides a platform for the institutions to explore activities that support professional learning and exposure to the banking sector.
Research and knowledge exchange are also central to the agreement. As Islamic finance continues to develop alongside digital banking technologies, collaboration between educational institutions and financial organisations can support research into emerging business models, financial services and industry practices. The partnership between RIDBL and IoBM-CIBF is therefore positioned around developing knowledge and capabilities that can contribute to the broader Islamic finance ecosystem.
The collaboration also reflects the growing importance of specialised talent for Islamic banking and financial services. Digital financial institutions require professionals who understand both financial technology and the principles governing Islamic finance. By bringing industry participation into an academic setting, the partnership seeks to help students build relevant skills while giving the financial sector access to a developing pool of talent.
Raqami Islamic Digital Bank and IoBM-CIBF said the partnership will work toward bridging the gap between academia and industry. The organisations aim to foster knowledge, nurture talent and support the development of future professionals and leaders in Islamic banking and financial services. The MoU provides a framework for continued cooperation between the two institutions as they pursue opportunities in education, research, industry exposure and professional development within the Islamic finance landscape.
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