ISLAMABAD/KARACHI: Dubai Islamic Bank Pakistan Limited (DIBPL), a subsidiary of Dubai Islamic Bank UAE, the world’s first Islamic Bank, has partnered with ZLK Islamic Financial Services, Pakistan’s first Shariah-compliant brokerage firm.

The Securities and Exchange Commission of Pakistan (SECP) has issued license of Shariah-compliant brokerage firm to ZLK Islamic Financial Services.

The MoU signing ceremony was held at DIBPL’s registered Head Office on Monday.

The MOU was signed by Junaid Ahmed, CEO of DIBPL, and Zahid Latif Khan, Chairman of ZLK Islamic Financial Services, in the presence of Ashfaq Ahmad Khan, COO of ZLK Financial Services, and Naveed Malik, Head of Consumer Banking at DIBPL and other departmental heads of DIBP.

This strategic collaboration aims to enhance access to Shariah-compliant financial products for DIBPL’s extensive customer base, including Roshan Digital Account holders and local clients. Customers will gain brokerage services of investing in a variety of Riba-free financial products such as shares, GoP Ijara Sukuk, ETFs, and Murabaha Share Financing (MSF). This initiative demonstrates DIBPL and ZLK Islamic Financial Services’ commitment to promoting and expanding ethical and Shariah-compliant financial solutions in Pakistan.

Junaid Ahmed, CEO, DIBPL, commented that “At DIBPL, we are committed to pioneering Islamic banking solutions. This collaboration with ZLK Islamic Financial Services highlights our dedication to expanding access to innovative financial products, promoting financial inclusion and prosperity.”

Naveed Malik, Head of Consumer Banking, DIBPL, added that our collaboration with ZLK enhances our business by opening new markets and streamlining operations.

Copyright Business Recorder, 2024