KARACHI – BankIslami, one of Pakistan’s fastest growing Islamic financial institutions, has signed a Memorandum of Understanding with the Export-Import Bank of Pakistan (EXIM Bank), marking Pakistan’s first Shariah-compliant trade and export finance partnership of its kind.
The collaboration aims to strengthen the country’s trade finance framework and expand access to Riba-free financial solutions across Pakistan.
The collaboration is aimed at reshaping how Pakistani exporters access trade finance, establishing a framework across key areas, including export credit insurance, credit risk management, digital solutions, and capacity building, with the shared goal of bringing Riba-free solutions to the heart of Pakistan’s export ecosystem and growing the trade footprint of both institutions.
The MoU was signed by Rizwan Ata, President & CEO of BankIslami and Shahbaz H. Syed, President & CEO of EXIM Bank. Other key executives included Imran H Shaikh, Dy Chief Executive Officer; Faisal Anwar, Group Head, Treasury & Financial Institutions; and Farrukh Aslam Chughtai, Group Head, Wholesale Banking from BankIslami and Faiz M. Salman, Regional Business Manager, Central; Farzana Adnan Alam, Regional Business Manager, North; and Muhammad Muzammil Khan, Head of Operations from EXIM Bank.
“Strengthening Pakistan’s trade and export sector is a national imperative, and we are pleased to play our role in it. Through this collaboration, we aim to bridge the gap and ensure that Riba-free trade finance is accessible to the larger business community across the country,” said Rizwan Ata. “Our partnership with EXIM Bank is rooted in a shared commitment to grow Pakistan’s export footprint while keeping our financial system free from Riba,” he added.
Shahbaz H. Syed commented, “Pakistan’s export sector holds immense potential, and EXIM Bank remains committed to unlocking it through the right partnerships. Our collaboration with BankIslami brings together EXIM Bank’s trade finance expertise and BankIslami’s Shariah-compliant framework to create solutions that are both effective and accessible for Pakistani exporters.”
This partnership reflects the shared commitment of BankIslami and EXIM Bank to building a robust, inclusive, and Riba-free financial ecosystem, one that empowers businesses, supports Pakistan’s trade ambitions, and upholds the principles of Islamic finance at every step.
