KARACHI: The Global Shari’ah Majlis, a highly anticipated event in the Islamic finance industry, was held on Wednesday, hosted by Standard Chartered Bank.

Global Shari’ah Majlis 2024 was a pivotal event in the Islamic finance calendar, offering a unique platform for dialogue and collaboration on the critical intersection of Islamic finance and sustainability.

This prestigious gathering brought together global Shari’ah scholars for an engaging dialogue on the topic of “Islamic Finance: Transforming for a Better Tomorrow’.

The Global Shari’ah Majlis comes at an opportune time, a few days after Pakistan’s parliament passed a historic constitutional amendment bill that stipulates a complete transition from conventional to Islamic banking before Jan. 1, 2028, with the move aimed at strengthening the legal framework for Islamic banking in the country.

Addressing the event, Rehan Shaikh, CEO & Head of Coverage, Standard Chartered Pakistan said that SC is pleased to host and engage with distinguished scholars, thought leaders and industry experts at the Annual Global Shariah Majlis.

This event comes at a crucial time for Pakistan as we move closer to the State Bank of Pakistan’s vision of transitioning to a fully Islamic financial system by 2027, he added.

He said events like these are crucial for our franchise as they not only highlight the importance of Islamic banking but also position the country at the forefront of a global financial transformation.

"With the right frameworks and collaborative efforts, Islamic finance can unlock financial inclusion, economic resilience, sustainability, and minimize social equality," Rehan said.

Copyright Business Recorder, 2024