Raqami Islamic Digital Bank held the 10th meeting of its Shariah Board on September 14, 2026, at the bank’s head office in Karachi, bringing together its religious oversight body and senior management to review the institution’s compliance framework and product roadmap. The session was chaired by Dr. Muhammad Imran Ashraf Usmani, Chairman of the Shariah Board, and attended by board members Mufti Hassan Kaleem, Mufti Muhammad Ashjah Khan, Mufti Muhammad Muaz Ashraf, and Mufti Azfer Iqbal, giving the meeting a full complement of the bank’s religious scholars.
From the management side, the meeting was attended by CEO Umair Aijaz, Chief Business Officer Syed Abid Raza Rizvi, and Head of Shariah Compliance Department Nasir Razak, placing senior executives directly in the room for discussions that touched on Shariah matters, products, processes, and governance. Regular Shariah Board meetings of this kind are a standard requirement for Islamic banks, giving scholars a formal channel to review new products and existing processes against Islamic finance principles before or after they reach customers, and to flag any adjustments needed to keep the bank’s offerings compliant.
According to Raqami, the meeting centered on guidance aimed at continuously improving its Shariah governance framework as the bank develops its digital banking ecosystem. The company said Shariah governance remains central to how it builds products, processes, and customer solutions, a framing that reflects the added complexity Islamic digital banks face in translating traditional Shariah compliance principles into fully digital, app-based banking journeys, where processes need to be reviewed for compliance at each stage of a customer’s interaction with the platform.
No specific details were disclosed about which products or processes were reviewed during the meeting, nor was any timeline given for when any resulting changes might be implemented. Raqami said it remains committed to advancing innovative and Shariah-compliant digital banking solutions, with the Shariah Board expected to continue meeting periodically as part of its ongoing oversight role over the bank’s operations and product development.
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