Business Desk 
Feb 20, 2025
An undated image of Meezan bank's branh. — Meezan Bank
In a bid to strengthen bilateral ties between the two nations, Pakistan's Meezan Bank and Turkiye'e banks association, or Turkiye Katilim Bankalari Birligi (TKBB), signed a memorandum of understanding (MoU) to foster innovation and knowledge sharing in Islamic finance.
“The MoU was exchanged during the official state visit of Turkish President Recep Tayyip Erdogan to Pakistan in a high-level ceremony at the Prime Minister’s House”, read a Meezan Bank statement on Wednesday.
The partnership marks the commencement of efforts to increase cross-border cooperation in Islamic banking. Three major aspects are in sight: capacity building, knowledge exchange, and operational excellence.
Group Head of Sharia Compliance at Meezan Bank Ahmed Ali Siddiqui said, “By leveraging collective expertise, both institutions aim to promote ethical banking practices, drive financial inclusion, and support the global growth of Islamic finance”.
By inking an agreement, the two country's prominent financial institutions vowed to introduce joint training programmes for Sharia-governance, Sukuk structuring, and regulatory compliance.
“We are pleased to cooperate under this MoU with Meezan Bank, which has made significant contributions to the development of the Islamic finance industry on a local and international scale with its long-standing history and prior activities, said Ismail Vural, secretary general of TKBB.
The collaboration will also devise platforms to share product development expertise, digital transformation, fintech solutions, and exchange strategies to enhance talent and innovation.
