Center Launch and Investment

The University of Agriculture Faisalabad (UAF) has established a Center of Islamic Finance with a total investment of Rs 2.5 million, created in partnership with Meezan Bank Limited. The center is housed within the Institute of Business Management Sciences at UAF and aims to enhance Islamic financial literacy while developing skilled professionals and entrepreneurs in the Islamic banking sector.

Inauguration and Key Attendees

The center was officially inaugurated by UAF Vice Chancellor Prof Dr Zulfiqar Ali and Meezan Bank Deputy Head Shariah Compliance Department Shayan Baig. The ceremony was attended by prominent figures including Meezan Bank GM Faisalabad Moazzam Saeed, Dean of Social Sciences Dr Babar Shahbaz, IBMS Director Dr Abdul Ghafoor, and faculty members from the institute.

Center Objectives and Training Programs

According to Dr Zulfiqar Ali, the center will conduct comprehensive training sessions and engage in practical product development related to Islamic financing. The facility is designed to promote innovation and technology commercialization through Islamic financial principles, capitalizing on the growing global popularity of Islamic finance systems.

Integration with Existing Programs

The Vice Chancellor highlighted that the university already operates a Business Incubation Center and National Incubation Center, which focus on developing entrepreneurs and supporting startup ventures. He emphasized the center’s role in helping create job providers rather than job seekers, while urging the development of university financial models that comply with Shariah principles.

National Banking Transition Goals

Shayan Baig revealed that Pakistan has set a 2028 deadline for complete transition to Islamic banking. The center will serve as a regional model, promoting various aspects of Islamic finance and training programs. Meezan Bank operates under the slogan “make Islamic Banking the first choice” and has previously collaborated with institutions like IBA to accelerate Islamic financial system adoption.

Academic and Industry Perspectives

Dr Babar Shahbaz emphasized that Islamic banking represents a rapidly growing global sector, noting that Islamic financial literacy is crucial for young entrepreneurs developing business models. Dr Abdul Ghafoor acknowledged Meezan Bank as Pakistan’s pioneering Islamic bank and announced plans for new degree programs in Islamic finance through university-industry collaboration.

Knowledge Economy and Future Development

Dr Sehar Munir stressed the importance of academia-industry partnerships in building a knowledge-based economy while providing insights into Islamic financing systems. The center represents a strategic initiative to produce trained professionals capable of advancing Pakistan’s Islamic banking sector and contributing to the country’s economic development goals.

Original Article:

Associated Press of Pakistan. (2025, August 7). UAF sets up Center of Islamic Finance. APP. https://www.app.com.pk/domestic/uaf-sets-up-center-of-islamic-finance/