Pakistan’s First Islamic Banking Conference hosted by Systems Limited and Temenos

June 14, 2023 – Systems Limited hosted its first Islamic banking conference with Temenos on June 13, 2023, at Marriott Hotel in Karachi. The conference received positive response from the industry, with respected banking professionals, executives and delegates from the State Bank of Pakistan (SBP) taking part in the event. 

Pakistan’s Islamic Banking industry has seen impressive expansion, with assets exceeding Rs 6 trillion and deposits reaching Rs 5 trillion in 2022. This upward trend is also fueled by the State Bank of Pakistan's (SBP) directive for all banks in the country to strengthen their Islamic banking reach nationwide. 

Considering this significant advancement, the seminar included keynote speeches by notable figures including Ammara Masood (Global Industries GM BFS at Systems Limited), 

William Moroney (Managing Director MEA at Temenos), and Mr. Ghulam Muhammad Abbasi (Director Islamic Finance Policy at the SBP). They provided insights into the current state and future potential of the Islamic banking industry. William Moroney specifically highlighted that Temenos, a prominent banking software company, already assists many of the largest Islamic banks in the region with tailored solutions designed to meet their unique requirements. 

Solange Obeid from Temenos provided a deep overview on Temenos’ offerings for the Islamic Banks in the region from the platform perspective, giving a comprehensive technical understanding to the audience.  

An engaging fireside chat with Meezan Bank, the leading Islamic bank in Pakistan, was also featured in the main plenary. During this session, Meezan Bank's remarkable journey was highlighted, and valuable insights were shared about the strategies they adopted for driving digital transformation. On this occasion, Ali Imran, Deputy CIO, Meezan Bank commented “Technology and Innovation play a critical role for success of any bank. Therefore, we have partnered with technology providers like Temenos and implementation partner Systems Limited, allowing us to introduce innovative shariah products and achieve remarkable growth”. 

A highly anticipated panel discussion brought together representatives from HBL, Faysal Bank, and SBP. They engaged in a deep discussion about their institutions' experiences in the Islamic banking sector. Few of the major topics explored was the importance of capacity building and creating awareness for Islamic banking. The panelists highlighted the efforts made by both SBP and the banks' internal Learning & Development teams to enhance awareness and provide training for professionals in the Islamic banking industry. Mr. Nassir Saleem, Head of Branch Banking & Acting Head Islamic Banking, HBL commented: “Given that we are in the midst of conversion to Islamic Banks, we collectively cannot overstress enough on how significant structure and capacity building is for this journey”. 

The seminar received high praise as a unique and exceptional event that emphasized the vital role of technology, innovation, and collaboration in fostering growth and sustainability within Islamic banking. Through the participation of top professionals, regulators, and technology providers, the conference set the stage for a dynamic and flourishing Islamic banking ecosystem in Pakistan.