New Shariah Board constituted at Mashreq Pakistan to commence Islamic banking
Mashreq Pakistan, a division of
Mashreq, a leading financial institution in the MENA region, has unveiled its
new Shariah Board. The board will be chaired by Dr. Ahcene Lahsasna, with Mufti
Muhammad Abdullah serving as Resident Shariah Board Member and Mufti Imtiaz
Alam joining as a Shariah Board Member.
The formation of this distinguished
Shariah Board follows Mashreq’s recent in-principle approval from the State
Bank of Pakistan to commence Islamic banking operations. This development
represents a major step in Mashreq’s expansion into the Pakistani market and
underscores the bank’s dedication to offering innovative, agile, and
Shariah-compliant financial solutions tailored to the needs of Pakistani
consumers.
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Muhammad Hamayun Sajjad, CEO of
Mashreq Pakistan, commented on the appointments: “Mashreq’s role as a
forward-thinking international bank is gaining traction, and our commitment to
driving growth in Pakistan is stronger than ever. We are excited to introduce
Islamic banking solutions that will exceed customer expectations. The addition
of our esteemed Shariah Board members is timely and pivotal. Their extensive
expertise in Shariah compliance and Islamic finance will be crucial as we
launch and expand our Islamic banking services in Pakistan.”
With the establishment of the
Shariah Board, Mashreq Pakistan is well-positioned to deliver high-quality,
Shariah-compliant financial products and services, reinforcing its commitment
to meeting the unique needs of its customers in Pakistan.
Source: The Nation