Regional Conference
The 6th AlBaraka
Forum Regional Conference, titled “Islamic
Economy in the Digital Age: Innovation within the Framework of Compliance,”
was held at the Pearl Continental Hotel in Karachi, bringing together senior
policymakers, regulators, financial leaders, scholars, and industry experts to
explore the rapid evolution of the digital economy and its alignment with Islamic
finance principles.
Organized by the AlBaraka Forum for Islamic
Economy in collaboration with the Islamic Chamber of Commerce and Development,
the conference served as a high-level platform for dialogue on digital
transformation, financial innovation, and institutional governance within the
Islamic economic system.
Addressing the gathering, State Bank of
Pakistan (SBP) Governor H.E. Mr. Jameel Ahmad underscored the scale of change
reshaping global finance. He noted that instant payment systems, new distribution
models, and artificial intelligence have moved from theory to practice, adding
that over 70 percent of people worldwide now use digital financial services,
while more than 80 percent are willing to transition—signaling a fundamental
shift in consumer behavior and expectations.
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The conference featured in-depth panel
discussions on digital Islamic banking, the future of Islamic investments,
Shari’ah compliance and governance, waqf and zakah, digital disruption, and
Pakistan’s strategic role as a leading Islamic economy in Asia.
In his opening remarks, Mr. Yousef Hassan
Khalawi, Secretary General of the AlBaraka Forum for Islamic Economy, stressed
the importance of aligning technological innovation with Islamic finance
values. He said that Islamic finance must advance alongside conventional
banking in the digital era, with governance, compliance, and institutional
integrity serving as key differentiators.
Expanding on the Forum’s research-driven
approach, Mr. Khalawi added that the core challenge today is not whether the
Islamic economy can be digitalized, but how this transformation is managed. He
emphasized the need for strong institutional frameworks and close collaboration
among scholars, regulators, and industry leaders to ensure innovation remains
aligned with Shari’ah objectives and long-term economic stability.
During the event, Governor Jameel Ahmad was
presented with an honorary trophy by the AlBaraka Forum in recognition of his
leadership and contributions to Pakistan’s financial and regulatory
development. An honorary commemorative trophy was also awarded to AlBaraka Bank
Pakistan as the Platinum Sponsor of the conference. The award was received by
Mr. Muhammad Atif Hanif, Chief Executive Officer of AlBaraka Bank Pakistan, who
highlighted the sector’s progress in integrating digital solutions with
Shari’ah-compliant principles to promote financial inclusion and trust.
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The conference also premiered a documentary
titled “Islamic Economy and the Advancement
of Digitalization Across Asia – The Pakistan Experience,” showcasing
Pakistan’s growing role in shaping the regional digital Islamic economy, with a
focus on innovation, inclusion, and institutional strength.
The event concluded with clear
recommendations, including the establishment of a transparent and integrated
framework for digital Islamic banking, enhanced coordination among banks,
Shari’ah boards, and regulators, and positioning Pakistan as a regional
benchmark for a stable, inclusive, and well-governed digital Islamic economy.
The
conference saw participation from prominent leaders and experts, including H.E.
Mr. Zafar Masud, Chairman of the Pakistan Banks’ Association and President
& CEO of The Bank of Punjab; H.E. Mr. Muhammad Nassir Salim, President
& CEO of HBL; Mr. Mohammad Shoaib, CEO of Lucky Investments Limited; H.E.
Mufti Dr. Irshad Ahmad Aijaz, Chairman of the SBP Shari’ah Advisory Committee;
and H.E. Dr. Umar A. Oseni, Secretary General of the OIC Arbitration Centre,
highlighting the conference’s strong institutional, regulatory, and scholarly
significance.
Source: Pro
Pakistani