Business Desk 
Oct 04, 2025
Former State Bank of Pakistan (SBP) governor Dr Ishrat Husain has declared Islamic banking an economic necessity, emphasising its importance during the launch of Sibtain Naqvi’s book "Unconventional — The Bank No One Saw Coming."
Speaking at a local hotel, Husain praised Naqvi for his five years of dedicated research for the book, whose crux captures the success of Meezan Bank.
He highlighted that Islamic banking goes beyond being a religious obligation, promoting equity and fairness compared to conventional banking, which often places the entire burden on borrowers.
Dr Husain shared three significant lessons from Meezan Bank’s journey: its role as a banking model, its remarkable efforts in Islamic finance, and its focus on leadership and human resource development.
Since its establishment in 2002, Meezan Bank has quickly risen to become one of Pakistan's leading financial institutions. Dr Husain stressed that the bank’s success is due to the commitment and teamwork of its staff.
Reflecting on his experiences, Naqvi noted how the concept of interest-free banking reshaped his understanding, particularly during the 2008 financial crisis when Islamic banks remained resilient.
Further reflections on the bank’s influence on the financial sector were made during discussions with Irfan Siddiqui and current SBP Governor Jameel Ahmad.
