Raqami Islamic Digital Bank has signed a Memorandum of Understanding (MoU) with the Institute of Business Management’s Center for Islamic Business & Finance (IoBM-CIBF) to promote talent development, knowledge exchange, research, and professional learning in Islamic finance. Announced by the digital bank on October 7, the partnership aims to establish closer cooperation between the banking industry and academia, creating opportunities for students to gain industry exposure and develop skills relevant to Islamic banking and financial services. The agreement reflects a shared interest in connecting academic learning with the practical requirements of the financial sector.
The MoU signing ceremony was attended by senior representatives from both institutions, including Umair Aijaz, Chief Executive Officer of Raqami Islamic Digital Bank, and Samina Malik, Chief HR and GSS Officer, along with the bank’s Head of Shariah Compliance. The Institute of Business Management was represented by its Rector, Professor Tariq Rahim Soomro, and Professor Dr Imam Uddin, Associate Dean of the College of Business Management. Their participation highlighted the involvement of the institutions’ leadership in establishing a working relationship focused on education, professional development, and the future requirements of Islamic financial services.
Under the collaboration, Raqami Islamic Digital Bank and IoBM-CIBF intend to create opportunities for student engagement, research activities, professional development, and interaction with the banking industry. Such initiatives can help students understand how Islamic financial institutions operate, including the application of Shariah principles, compliance requirements, customer service practices, and the use of digital technologies in financial products. Industry engagement can also provide academic institutions with insights into emerging skills requirements, allowing educational programmes and research activities to address practical challenges faced by financial services providers. The announcement did not specify a detailed implementation schedule, funding arrangements, or individual programmes that will be introduced under the agreement.
The partnership comes as digital banking and technology-enabled financial services continue to create new professional requirements across Pakistan’s banking sector. Islamic financial institutions must combine digital service delivery with Shariah compliance, risk management, regulatory obligations, and customer trust. Developing professionals with knowledge of both Islamic finance and modern banking operations is therefore an important consideration for institutions seeking to build their capabilities. Through its collaboration with IoBM-CIBF, Raqami Islamic Digital Bank aims to contribute to the development of future professionals while supporting research and closer links between education and industry. The results of the initiative will depend on how the two institutions translate the agreement into practical learning opportunities, research projects, and sustained engagement with students and faculty.
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