A book chronicling the inspiring journey of Meezan Bank, titled Unconventional – The Bank No One Saw Coming, was launched at a ceremony in Karachi. Authored by writer and researcher Sibtain Naqvi, the book captures the story of Pakistan’s first and largest Islamic bank, tracing its transformation from a fledgling institution to a key player shaping the country’s financial landscape.
The event brought together prominent figures from Pakistan’s financial and academic circles, including former State Bank of Pakistan (SBP) governor Dr Ishrat Husain, SBP Governor Jameel Ahmad, and Meezan Bank President and CEO Irfan Siddiqui. Delivering the keynote address, Dr Husain praised the author for dedicating five years to compiling detailed research and interviews, calling the book “a testament to vision, leadership, and institutional integrity.”
Reflecting on Meezan Bank’s rise, Dr Husain noted that the bank began its operations from scratch in 2002 and has since grown into one of the country’s most successful financial institutions. “Meezan Bank’s progress is a story of commitment, discipline, and clarity of purpose,” he said, adding that the institution stands as a model for professional ethics and merit-based growth in Pakistan’s corporate environment.
He divided the key takeaways from Meezan Bank’s journey into three main lessons: as a model for the banking industry, as a pioneer in Islamic banking, and as an example of leadership excellence and human resource development.
Speaking about leadership, Dr Husain emphasized that truly visionary leaders are those who combine strategic thinking with operational execution. “There are many who plan well but fail to deliver, and many who execute but lack vision. Irfan Siddiqui is among the rare few who embody both,” he said. He also underscored that professionalism, meritocracy, and integrity are the foundations of sustainable institutions, while nepotism and favoritism erode credibility.
Dr Husain reiterated that Islamic banking is not just a faith-based initiative but an economic necessity. “Conventional banking places all the burden on the borrower, while Islamic finance is based on sharing, fairness, and equity,” he explained. He described the model as a moral and practical framework capable of driving financial inclusion, reducing poverty, and empowering small businesses and farmers.
Highlighting the importance of teamwork in Meezan Bank’s success, Dr Husain described leadership as a “symphony rather than a solo act.” He said the institution’s growth was made possible through the collective conviction and dedication of its employees, whose sense of mission went far beyond routine professional obligations.
Author Sibtain Naqvi, in his address, shared his inspiration for documenting the bank’s journey. He recalled first learning about Meezan Bank during his time at IBA, when the concept of interest-free banking was still new and revolutionary. “The idea that a bank could lend without interest seemed impossible, yet Meezan Bank proved it could be done — ethically and profitably,” he said.
Naqvi added that the resilience of Islamic banks during the 2008 global financial crisis proved their strength as not only religiously aligned institutions but also as stable and sustainable business models. “Meezan Bank’s rise was a result of trust — traders, professionals, and communities believed in its vision,” he remarked, noting that the story of Irfan Siddiqui is inseparable from that of Meezan Bank’s evolution.
The launch event concluded with two panel discussions featuring industry leaders, including Irfan Siddiqui and SBP Governor Jameel Ahmad, who discussed the evolution and future potential of Islamic banking in Pakistan. The event served as a reflection on how vision, values, and integrity can redefine an entire sector and inspire a new generation of banking leadership.
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