Allied Bank (Islamic Banking Group) organized a seminar in Peshawar on the widely discussed subject of Islamic Banking. The event was graced by distinguished guests from various sectors, including delegates from the Peshawar Chamber of Commerce and prominent businessmen.
The seminar was also honored by the presence of Mufti Muhammad Iftikhar Baig, Chairman Shariah Board – Allied Aitbaar Islamic Banking (AAIB), and Mr. Muhammad Idrees, Chief of the Islamic Banking Group. Senior management including Group Heads and Regional Heads of Islamic Banking, along with representatives from the Commercial & Retail Banking Group (CRBG), were also in attendance.
Welcoming Remarks and Relevance of Islamic Banking
Shaikh Raashed Rauf, Group Head Business, formally welcomed the distinguished participants and provided an introductory address on the relevance and growing importance of Islamic Banking, particularly in business-related transactions and the broader economic context of Pakistan.
Support from Peshawar Chamber of Commerce
Mr. Faiz Muhammad, President of the Peshawar Chamber of Commerce, expressed his appreciation for Allied Bank’s initiative to raise awareness within the business community. He emphasized the growth potential of Islamic Banking in Pakistan and highlighted the value of such engagements in fostering a Shariah-compliant financial ecosystem.
Allied Bank’s Commitment to Islamic Financial Inclusion
Chief Islamic Banking, Mr. Muhammad Idrees, elaborated on the role of Islamic Banking in Pakistan’s financial landscape and outlined Allied Bank’s contributions to financial inclusion through its dedicated Islamic services. He noted that Allied Aitbaar Islamic Banking currently operates 117 exclusive branches across 53 major cities in Pakistan. He also shared that the Bank is preparing to launch Islamic Banking Windows (IBWs) at conventional ABL branches, further expanding accessibility to Islamic financial services nationwide.
Insights from the Chairman Shariah Board
Mufti Muhammad Iftikhar Baig, Chairman Shariah Board, delivered a comprehensive lecture covering key aspects of Islamic Banking, its importance in daily economic life, and the distinctions between conventional and Islamic banking models. He also addressed several common misconceptions associated with Islamic Banking.
Interactive Q&A Session
The session concluded with a highly engaging Questions & Answers segment, allowing the audience to interact directly with the Chairman Shariah Board. Participants actively posed queries and received detailed explanations, helping them gain a clearer understanding of Shariah-compliant banking practices.
The seminar was well-received and highly applauded by the attendees.