In a groundbreaking move to strengthen international ties in Islamic finance, Meezan Bank, Pakistan’s leading Islamic bank, and the Participation Banks Association of Türkiye (TKBB) have signed a Memorandum of Understanding (MoU) to drive innovation and collaboration in the sector.

The MoU was signed during the state visit of Turkish President H.E. Recep Tayyip Erdoğan to Pakistan, with the ceremony taking place at the Prime Minister’s House in Islamabad, attended by Prime Minister Shehbaz Sharif and senior officials from both countries.

The partnership will focus on three primary areas: capacity building, knowledge exchange, and operational excellence. It aims to establish joint training programs, promote collaborative platforms for product development, and drive digital transformation and innovation in Islamic finance.

Mr. İsmail Vural, Secretary General of TKBB, emphasized the importance of the collaboration for the sustainable growth of the sector, while Meezan Bank’s Ahmed Ali Siddiqui highlighted the role of the MoU in promoting ethical banking and financial inclusion.