Islamabad (Khyber Mail): Khushhali Microfinance Bank Limited (KMBL) has partnered with Qazi Shariah Consultancy to strengthen its commitment to Islamic banking. This collaboration aligns with the State Bank of Pakistan’s Vision 2028, which aims to transition conventional banks into Shariah-compliant financial institutions in accordance with the Federal Shariat Court’s directives.
KMBL is proactively adopting Shariah-compliant financial solutions to cater to the increasing demand for ethical and riba-free banking services. Through this partnership, the bank will leverage Qazi Shariah Consultancy’s expertise in Islamic finance to ensure that its products and services strictly adhere to Islamic banking principles.
The signing ceremony was attended by senior executives from both organizations, including KMBL President & CEO Aameer Karachiwalla, Chief Business Officer Muhammad Aftab Alam, and Consultant Maazullah Khan from Qazi Shariah Consultancy.
Speaking on the occasion, Karachiwalla emphasized the significance of this initiative, stating, “As part of our commitment to financial inclusion and ethical banking, KMBL is proud to collaborate with Qazi Shariah Consultancy. This partnership is a milestone in our journey toward offering fully Shariah-compliant financial solutions, in line with the State Bank of Pakistan’s vision. We are dedicated to providing customers with innovative, riba-free banking services that meet their financial needs while adhering to Islamic principles.”
KMBL aims to develop and expand its Islamic banking portfolio, ensuring strict Shariah governance while enhancing financial accessibility for individuals and businesses seeking ethical banking solutions.